Retirement plan

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

Name: I.B.E.W LOCAL UNION NO. 124 - I. B. E. W. LOCAL UNION NO. 124 401(K) PLAN (2023) Form 5500
Creator: I.B.E.W LOCAL UNION NO. 124
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, I. B. E. W. LOCAL UNION NO. 124 401(K) PLAN, I.B.E.W LOCAL UNION NO. 124

I.B.E.W LOCAL UNION NO. 124EIN 43-1269910Plan #005PY 2023

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

Other plans on this EIN

1 filing

#001Retirement-$394.5M assets

Prospect flagsFailed to transmit contributions

How to read this page

Total assets (EOY)

$141.7M

-5.0% from 2016

Total participants

2,797

+0.6% from 2016

Average account balance

$57,024

-3.1% from 2016

Annual return

18.11%

-9.58 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

$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 6 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290	Contract Administrator	$151,577
LOCAL UNION 124 BENEFIT OFFICE9+ years Service code 13 · EIN 43-1662293	Contract Administrator	$103,168
ARNOLD, NEWBOLD, SOLLARS & HOLLINS5 years Service code 29 · EIN 43-1174269	Legal	$63,386
THE SEGAL COMPANY6 years Filed as: SEGAL MARCO ADVISORS Service code 27 · EIN 13-2646110	Advisory (Plan)	$20,489
RUBINBROWN LLP9+ years Service code 10 · EIN 43-0765316	Accounting	$18,200
CONSTRUCTION BENEFITS AUDIT CORP9+ years Service code 10 · EIN 43-1244218	Accounting	$13,516

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

1 tripped

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

$370K

$161 / participant

Recordkeeping$14K3.6%
Investment mgmt$20K5.5%
Legal$63K17.1%
Contract admin$255K68.8%
Other / not subdivided$18K4.9%

% of EOY assets

0.261%

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 LLP
Auditor EIN: 430765316
Audit fees: $18,200
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$57,024

$88,479-35.6%

$96,543-40.9%

$80,187-28.9%

Participation rate

86.4%

79.9%+6.5pp

74.3%+12.1pp

72.9%+13.5pp

Annual return

18.11%

22.53%-4.4pp

35.75%-17.6pp

40.40%-22.3pp

Employer contribution / active EE

$4,177-100.0%

$3,741-100.0%

$2,980-100.0%

Participant deferral / active EE

$4,129

$3,961+4.3%

$4,880-15.4%

$5,016-17.7%

Admin fee / account holder

$149

$211-29.5%

$6,737-97.8%

$145+2.8%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY9+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$151,577

LOCAL UNION 124 BENEFIT OFFICE9+ years

Service code 13 · EIN 43-1662293

Contract Administrator

$103,168

ARNOLD, NEWBOLD, SOLLARS & HOLLINS5 years

Service code 29 · EIN 43-1174269

Legal

$63,386

THE SEGAL COMPANY6 years

Filed as: SEGAL MARCO ADVISORS

Service code 27 · EIN 13-2646110

Advisory (Plan)

$20,489

RUBINBROWN LLP9+ years

Service code 10 · EIN 43-0765316

Accounting

$18,200

CONSTRUCTION BENEFITS AUDIT CORP9+ years

Service code 10 · EIN 43-1244218

Accounting

$13,516

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