Retirement plan

IBEW LOCAL 347 RETIREMENT AND 401(K) PLAN

Name: IBEW LOCAL NO. 347 & IOWA CHAPTER OF NECA, JOINT BOARD OF TRUSTEES - IBEW LOCAL 347 RETIREMENT AND 401(K) PLAN (2018) Form 5500
Creator: IBEW LOCAL NO. 347 & IOWA CHAPTER OF NECA, JOINT BOARD OF TRUSTEES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL 347 RETIREMENT AND 401(K) PLAN, IBEW LOCAL NO. 347 & IOWA CHAPTER OF NECA, JOINT BOARD OF TRUSTEES

IBEW LOCAL NO. 347 & IOWA CHAPTER OF NECA, JOINT BOARD OF TRUSTEESEIN 45-4356227Plan #001PY 2018

2156 WEST 2200 SOUTH - SALT LAKE CITY, UT 84119844-347-4239

Prospect flagsLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$229.2M

-15.5% from 2017

Total participants

2,019

+0.3% from 2017

Average account balance

$124,506

-9.0% from 2017

Annual return

11.62%

-15.28 pp from 2017

Benchmarks

See 405 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort405 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$431.55M

Not enough data

1 years with asset history on file

Average account balance

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

$145K

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.

2,981

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.

84.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$21.58M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+8.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$242

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
DIMEO SCHNEIDER & ASSOCIATES LLC3+ years Filed as: DIMEO SCHNEIDER & ASSOCIATES, LLC Service code 27 · EIN 36-4001764	Advisory (Plan)	$48,208
COMPUSYS OF UTAH, INC.3+ years Service code 13 · EIN 84-0869853	Contract Administrator	$45,807
BLAKE & UHLIG, P.A.3+ years Filed as: BLAKE & UHLIG Service code 29 · EIN 48-0918231	Legal	$38,479
DEBOER & ASSOCIATES, PC3+ years Service code 10 · EIN 47-0836395	Accounting	$33,801
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 50 · EIN 42-0127290	Direct Payment	$7,345

Plan features & details

Pension benefit codes2E2G2J2F

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.
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.

Opportunity flags

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$230K

$118 / participant

Investment mgmt$48K20.9%
Contract admin$46K19.9%
Other / not subdivided$136K59.2%

% of EOY assets

0.100%

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: DEBOER AND ASSOCIATES, PC
Auditor EIN: 470836395
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$124,506

$60,396+106.1%

$83,831+48.5%

$75,289+65.4%

Participation rate

90.9%

80.7%+10.2pp

76.1%+14.8pp

72.4%+18.5pp

Annual return

11.62%

3.84%+7.8pp

850.99%-839.4pp

-0.04%+11.7pp

Employer contribution / active EE

$5,855

$3,343+75.1%

$3,631+61.3%

$2,405+143.5%

Participant deferral / active EE

$614

$2,922-79.0%

$4,082-85.0%

$3,739-83.6%

Admin fee / account holder

$125

$141-11.4%

$5,479-97.7%

$102+22.3%

Provider

Service type

Compensation

DIMEO SCHNEIDER & ASSOCIATES LLC3+ years

Filed as: DIMEO SCHNEIDER & ASSOCIATES, LLC

Service code 27 · EIN 36-4001764

Advisory (Plan)

$48,208

COMPUSYS OF UTAH, INC.3+ years

Service code 13 · EIN 84-0869853

Contract Administrator

$45,807

BLAKE & UHLIG, P.A.3+ years

Filed as: BLAKE & UHLIG

Service code 29 · EIN 48-0918231

Legal

$38,479

DEBOER & ASSOCIATES, PC3+ years

Service code 10 · EIN 47-0836395

Accounting

$33,801

PRINCIPAL LIFE INSURANCE COMPANY3+ years

Service code 50 · EIN 42-0127290

Direct Payment

$7,345

IBEW LOCAL 347 RETIREMENT AND 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL 347 RETIREMENT AND 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