Retirement plan

I. B. E. W. LOCAL UNION NO. 124 ANNUITY PLAN

Name: IBEW LOCAL UNION NO. 124 - I. B. E. W. LOCAL UNION NO. 124 ANNUITY PLAN (2023) Form 5500
Creator: IBEW LOCAL UNION NO. 124
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, I. B. E. W. LOCAL UNION NO. 124 ANNUITY PLAN, IBEW LOCAL UNION NO. 124

IBEW LOCAL UNION NO. 124EIN 43-1269910Plan #001PY 2023

305 E. 103RD TERRACE - KANSAS CITY, MO 64114816-943-0277

Other plans on this EIN

1 filing

#005Retirement-$141.7M assets

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$394.5M

-8.2% from 2016

Total participants

3,617

+0.4% from 2016

Average account balance

$112,808

-9.1% from 2016

Annual return

18.56%

-9.65 pp from 2016

Benchmarks

See 531 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort531 peers

Snapshot2023

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$447.18M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$121K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

3,692

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

95.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$26.90M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+13.18%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$139

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 6 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290	Contract Administrator	$221,763
LOCAL UNION 124 BENEFIT OFFICE4 years Service code 13 · EIN 43-1662293	Contract Administrator	$159,920
ARNOLD, NEWBOLD, SOLLARS & HOLLINS4 years Service code 29 · EIN 43-1174269	Legal	$76,438
CONSTRUCTION BENEFITS AUDIT CORP6 years Service code 10 · EIN 43-1244218	Accounting	$25,987
THE SEGAL COMPANY6 years Filed as: SEGAL MARCO ADVISORS Service code 27 · EIN 13-2646110	Advisory (Plan)	$22,052
RUBINBROWN LLP9+ years Service code 10 · EIN 43-0765316	Accounting	$18,200

Plan features & details

Pension benefit codes2E2F2G2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$526K

$150 / participant

Recordkeeping$26K4.9%
Investment mgmt$22K4.2%
Legal$76K14.5%
Contract admin$382K72.6%
Other / not subdivided$19K3.7%

% of EOY assets

0.133%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: RUBINBROWN LLC
Auditor EIN: 730765316
Audit fees: $18,200
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$112,808

$88,479+27.5%

$96,543+16.8%

$80,187+40.7%

Participation rate

96.6%

79.9%+16.7pp

74.3%+22.2pp

72.9%+23.6pp

Annual return

18.56%

22.53%-4.0pp

35.75%-17.2pp

40.40%-21.8pp

Employer contribution / active EE

$6,057

$4,177+45.0%

$3,741+61.9%

$2,980+103.3%

Participant deferral / active EE

$3,961-100.0%

$4,880-100.0%

$5,016-100.0%

Admin fee / account holder

$150

$211-28.9%

$6,737-97.8%

$145+3.6%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY9+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$221,763

LOCAL UNION 124 BENEFIT OFFICE4 years

Service code 13 · EIN 43-1662293

Contract Administrator

$159,920

ARNOLD, NEWBOLD, SOLLARS & HOLLINS4 years

Service code 29 · EIN 43-1174269

Legal

$76,438

CONSTRUCTION BENEFITS AUDIT CORP6 years

Service code 10 · EIN 43-1244218

Accounting

$25,987

THE SEGAL COMPANY6 years

Filed as: SEGAL MARCO ADVISORS

Service code 27 · EIN 13-2646110

Advisory (Plan)

$22,052

RUBINBROWN LLP9+ years

Service code 10 · EIN 43-0765316

Accounting

$18,200

I. B. E. W. LOCAL UNION NO. 124 ANNUITY PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

I. B. E. W. LOCAL UNION NO. 124 ANNUITY PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion