Retirement plan

IBEW LOCAL UNION NO 226 OPEN END DEFINED CONTRIBUTION PLAN

Name: IBEW LOCAL UNION NO 226 - IBEW LOCAL UNION NO 226 OPEN END DEFINED CONTRIBUTION PLAN (2021) Form 5500
Creator: IBEW LOCAL UNION NO 226
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL UNION NO 226 OPEN END DEFINED CONTRIBUTION PLAN, IBEW LOCAL UNION NO 226

IBEW LOCAL UNION NO 226EIN 48-6171386Plan #002PY 2021

4101 SW SOUTHGATE DRIVE - TOPEKA, KS 66609785-267-0140ibew226.comLinkedIn1001-5000 employeesfinancial services

Other plans on this EIN

1 filing

#001Retirement-$79.0M assets

Prospect flagsLow assets / participantLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$4.1M

+100.5% from 2020

Total participants

647

+5.9% from 2020

Average account balance

$7,156

+84.5% from 2020

Annual return

16.35%

-29.46 pp from 2020

Benchmarks

See 866 peers

Peer group

Industry81 - Other Services (except Public Administration)

Plan typeDefined contribution

Participants250-999

Cohort866 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.98M

Not enough data

1 years with asset history on file

Average account balance

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

$15K

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.

777

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.

89.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.82M

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

+13.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$158

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 1 by compensation

Provider	Service type	Compensation
IBEW-NECA SERVICE CENTER1 year Filed as: IBEW LOCAL UNION 226 Service code 13 · EIN 48-6171386	Contract Administrator	$42,447

Plan features & details

Pension benefit codes2E2F2G2J2T

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.
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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match 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

$47K

$72 / participant

Contract admin$23K50.1%
Other / not subdivided$23K49.9%

% of EOY assets

1.152%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SSC CPAS, P.A.
Auditor EIN: 481215584
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$7,156

$58,344-87.7%

$98,483-92.7%

$86,821-91.8%

Participation rate

87.4%

68.4%+19.0pp

73.3%+14.1pp

72.3%+15.1pp

Annual return

16.35%

43.47%-27.1pp

1494.38%-1478.0pp

97.94%-81.6pp

Employer contribution / active EE

$2,281

$2,008+13.6%

$2,961-23.0%

$2,406-5.2%

Participant deferral / active EE

$399

$3,156-87.4%

$4,276-90.7%

$4,132-90.3%

Admin fee / account holder

$82

$138-40.2%

$5,953-98.6%

$170-51.4%

Provider

Service type

Compensation

IBEW-NECA SERVICE CENTER1 year

Filed as: IBEW LOCAL UNION 226

Service code 13 · EIN 48-6171386

Contract Administrator

$42,447

IBEW LOCAL UNION NO 226 OPEN END DEFINED CONTRIBUTION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL UNION NO 226 OPEN END DEFINED CONTRIBUTION 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