Retirement plan

I.B.E.W. LOCAL UNION NO. 124 401(K) PLAN

Name: IBEW LOCAL UNION NO. 124 ANNUITY PLAN - I.B.E.W. LOCAL UNION NO. 124 401(K) PLAN (2019) Form 5500
Creator: IBEW LOCAL UNION NO. 124 ANNUITY PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, I.B.E.W. LOCAL UNION NO. 124 401(K) PLAN, IBEW LOCAL UNION NO. 124 ANNUITY PLAN

IBEW LOCAL UNION NO. 124 ANNUITY PLANEIN 43-1269910Plan #005PY 2019

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

Other plans on this EIN

1 filing

#001Retirement-$298.0M assets

Prospect flagsLow participationFailed to transmit contributions

How to read this page

Total assets (EOY)

$107M

-5.0% from 2016

Total participants

2,866

+0.6% from 2016

Average account balance

$56,357

-3.1% from 2016

Annual return

22.18%

-9.58 pp from 2016

Benchmarks

See 440 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort440 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$156.51M

Not enough data

1 years with asset history on file

Average account balance

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

$57K

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.

2,765

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.

69.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$10.79M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+12.43%

Not enough data

1 years with return on file

Admin fee / account holder

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

$132

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 5 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY5+ years Service code 13 · EIN 42-0127290	Contract Administrator	$90,465
LOCAL UNION 124 BENEFIT OFFICE5+ years Service code 13 · EIN 43-1662293	Contract Administrator	$85,631
ARNOLD, NEWBOLD, SOLLARS & HOLLINS1 year Service code 29 · EIN 43-1174269	Legal	$44,843
THE SEGAL COMPANY2 years Filed as: SEGAL MARCO ADVISORS Service code 27 · EIN 13-2646110	Advisory (Plan)	$18,527
RUBINBROWN LLP5+ years Service code 10 · EIN 43-0765316	Accounting	$15,500

Plan features & details

Pension benefit codes2F2G2J2T

Plan features

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.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
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

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$257K

$92 / participant

Investment mgmt$19K7.2%
Contract admin$176K68.5%
Other / not subdivided$63K24.3%

% of EOY assets

0.240%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: RUBINBROWN LLP
Auditor EIN: 430765316
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$56,357

$66,051-14.7%

$92,916-39.3%

$77,775-27.5%

Participation rate

65.5%

81.0%-15.5pp

76.0%-10.5pp

73.2%-7.7pp

Annual return

22.18%

20.69%+1.5pp

109.45%-87.3pp

32.58%-10.4pp

Employer contribution / active EE

$3,426-100.0%

$3,654-100.0%

$2,504-100.0%

Participant deferral / active EE

$1,938

$3,013-35.7%

$4,238-54.3%

$3,966-51.1%

Admin fee / account holder

$136

$148-8.3%

$5,796-97.7%

$100+35.4%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY5+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$90,465

LOCAL UNION 124 BENEFIT OFFICE5+ years

Service code 13 · EIN 43-1662293

Contract Administrator

$85,631

ARNOLD, NEWBOLD, SOLLARS & HOLLINS1 year

Service code 29 · EIN 43-1174269

Legal

$44,843

THE SEGAL COMPANY2 years

Filed as: SEGAL MARCO ADVISORS

Service code 27 · EIN 13-2646110

Advisory (Plan)

$18,527

RUBINBROWN LLP5+ years

Service code 10 · EIN 43-0765316

Accounting

$15,500

I.B.E.W. LOCAL UNION NO. 124 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

I.B.E.W. LOCAL UNION NO. 124 401(K) 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