Retirement plan

IBEW LOCAL 43 AND ELECTRICAL CONTRACTORS ANNUITY F

Name: BOARD OF TRUSTEES IBEW LOCAL 43 AND ELECTRICAL CONTRACTORS - IBEW LOCAL 43 AND ELECTRICAL CONTRACTORS ANNUITY F (2021) Form 5500
Creator: BOARD OF TRUSTEES IBEW LOCAL 43 AND ELECTRICAL CONTRACTORS
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL 43 AND ELECTRICAL CONTRACTORS ANNUITY F, BOARD OF TRUSTEES IBEW LOCAL 43 AND ELECTRICAL CONTRACTORS

BOARD OF TRUSTEES IBEW LOCAL 43 AND ELECTRICAL CONTRACTORSEIN 51-6052602Plan #001PY 2021

P.O. BOX 2218 - SYRACUSE, NY 132202218315-474-5729

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$197.5M

+28.3% from 2020

Total participants

1,684

+2.8% from 2020

Average account balance

$121,899

+24.9% from 2020

Annual return

27.62%

+20.85 pp from 2020

Benchmarks

See 479 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort479 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$248.77M

Not enough data

1 years with asset history on file

Average account balance

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

$139K

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.

1,787

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.

93.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$12.63M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+10.62%

Not enough data

1 years with return on file

Admin fee / account holder

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

$270

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

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Service providers

Top 10 of 14 by compensation

Provider	Service type	Compensation
IBEW LOCAL 43 ANNUITY FUND6+ years Service code 27 · EIN 51-6052602	Advisory (Plan)	$456,525
RELIANCE TRUST COMPANY2 years Filed as: RELIANCE TRUST Service code 21 · EIN 58-1428634	Bank Trustee	$353,933
MASSSACHUSETTS MUTUAL LIFE INSURANC3 years Service code 50 · EIN 04-1590850	Direct Payment	$110,021
BLITMAN & KING6+ years Service code 29 · EIN 16-1047301	Legal	$44,551
PINNACLE FINANCIAL SERVICES, INC.6+ years Filed as: PINNACLE INVESTMENTS, INC. Service code 27 · EIN 20-5319494	Advisory (Plan)	$27,500
MARCO CONSULTING GROUP6+ years Service code 16 · EIN 36-3555078	Consulting	$26,500
BONADIO & CO., LLP6+ years Service code 10 · EIN 16-1131146	Accounting	$23,400
JOSEPH W. MCCARTHY & ASSOCIATES6+ years Filed as: JOSEPH W. MCCARTHY AND ASSOCIATES Service code 10 · EIN 16-1120588	Accounting	$5,307
AMERICAN REALTY ADVISORS4 years Filed as: AMERICAN BEACON Service code 52 · EIN 75-2401150	Indirect Investment Fees	$0
AMERICAN FUNDS4 years Service code 52 · EIN 52-0792143	Indirect Investment Fees	$0

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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$796K

$526 / participant

Investment mgmt$947K119.0%

% of EOY assets

0.403%

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: BONADIO & CO., LLP
Auditor EIN: 161131146
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$121,899

$88,770+37.3%

$109,173+11.7%

$93,010+31.1%

Participation rate

95.8%

81.5%+14.3pp

75.9%+19.9pp

73.9%+21.9pp

Annual return

27.62%

60.64%-33.0pp

25.75%+1.9pp

158.70%-131.1pp

Employer contribution / active EE

$5,026

$3,780+33.0%

$3,723+35.0%

$2,705+85.8%

Participant deferral / active EE

$3,630-100.0%

$4,654-100.0%

$4,561-100.0%

Admin fee / account holder

$491

$172+185.1%

$6,755-92.7%

$152+223.9%

Provider

Service type

Compensation

IBEW LOCAL 43 ANNUITY FUND6+ years

Service code 27 · EIN 51-6052602

Advisory (Plan)

$456,525

RELIANCE TRUST COMPANY2 years

Filed as: RELIANCE TRUST

Service code 21 · EIN 58-1428634

Bank Trustee

$353,933

MASSSACHUSETTS MUTUAL LIFE INSURANC3 years

Service code 50 · EIN 04-1590850

Direct Payment

$110,021

BLITMAN & KING6+ years

Service code 29 · EIN 16-1047301

Legal

$44,551

PINNACLE FINANCIAL SERVICES, INC.6+ years

Filed as: PINNACLE INVESTMENTS, INC.

Service code 27 · EIN 20-5319494

Advisory (Plan)

$27,500

MARCO CONSULTING GROUP6+ years

Service code 16 · EIN 36-3555078

Consulting

$26,500

BONADIO & CO., LLP6+ years

Service code 10 · EIN 16-1131146

Accounting

$23,400

JOSEPH W. MCCARTHY & ASSOCIATES6+ years

Filed as: JOSEPH W. MCCARTHY AND ASSOCIATES

Service code 10 · EIN 16-1120588

Accounting

$5,307

AMERICAN REALTY ADVISORS4 years

Filed as: AMERICAN BEACON

Service code 52 · EIN 75-2401150

Indirect Investment Fees

AMERICAN FUNDS4 years

Service code 52 · EIN 52-0792143

Indirect Investment Fees

IBEW LOCAL 43 AND ELECTRICAL CONTRACTORS ANNUITY F

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL 43 AND ELECTRICAL CONTRACTORS ANNUITY F

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