Retirement plan

IBEW LOCAL 332 PENSION PLAN PART B

Name: BOARD OF TRUSTEES IBEW LOCAL 332 PENSION PLAN PART B - IBEW LOCAL 332 PENSION PLAN PART B (2019) Form 5500
Creator: BOARD OF TRUSTEES IBEW LOCAL 332 PENSION PLAN PART B
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL 332 PENSION PLAN PART B, BOARD OF TRUSTEES IBEW LOCAL 332 PENSION PLAN PART B

BOARD OF TRUSTEES IBEW LOCAL 332 PENSION PLAN PART BEIN 51-6105118Plan #005PY 2019

6800 SANTA TERESA BLVD SUITE 100 - SAN JOSE, CA 95119408-288-4400

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$624.6M

-5.9% from 2016

Total participants

3,802

+18.5% from 2016

Average account balance

$214,624

-21.0% from 2016

Annual return

16.87%

-6.33 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

$885.74M

Not enough data

1 years with asset history on file

Average account balance

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

$222K

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.

3,981

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.

92.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$54.74M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$25K

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

+10.93%

Not enough data

1 years with return on file

Admin fee / account holder

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

$336

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 8 by compensation

Provider	Service type	Compensation
KAUFMANN & GOBLE5+ years Filed as: KAUFMANN AND GOBLE Service code 15 · EIN 94-2614826 160 W SANTA CLARA ST SUITE 1550 · SAN JOSE, CA 95113	Recordkeeping	$239,644
UNITED ADMINISTRATIVE SERVICES5+ years Service code 13 · EIN 94-1749354	Contract Administrator	$213,893
FERGUSON WELLMAN CAPITAL MANAGEMENT5+ years Filed as: FERGUSON WELLMAN Service code 28 · EIN 93-0646988 888 SW 5TH AVE 1200 · PORTLAND, OR 97204	Investment Management	$143,248
MATRIX TRUST COMPANY5+ years Service code 21 · EIN 75-3182674	Bank Trustee	$121,010
WELLS FARGO BANK, N.A.5+ years Filed as: WELLS FARGO ADVISORS Service code 26 · EIN 23-2384840	Advisory (Participants)	$69,000
J HERRLE5+ years Service code 17 · EIN 93-0692196 1800 SW FIRST AVENUE, SUITE 280 · PORTLAND, OR 97201	Pension Consulting	$35,720
EIDE BAILLY LLP2 years Filed as: VAVRINEK, TRINE, DAY & CO., LLP Service code 10 · EIN 95-2648289	Accounting	$33,401
KRAW LAW GROUP5+ years Service code 29 · EIN 77-0171216 605 ELLIS STREET · MOUNTAIN VIEW, CA 94043	Legal	$27,187

Plan features & details

Pension benefit codes2E2J2S2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
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

$1.1M

$531 / participant

Investment mgmt$264K23.1%
Contract admin$214K18.7%
Other / not subdivided$667K58.3%

% of EOY assets

0.183%

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: EIDE BAILLY LLP
Auditor EIN: 450250958
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$214,624

$66,051+224.9%

$92,916+131.0%

$77,775+176.0%

Participation rate

58.7%

81.0%-22.3pp

76.0%-17.3pp

73.2%-14.5pp

Annual return

16.87%

20.69%-3.8pp

109.45%-92.6pp

32.58%-15.7pp

Employer contribution / active EE

$10,937

$3,426+219.3%

$3,654+199.3%

$2,504+336.8%

Participant deferral / active EE

$7,066

$3,013+134.5%

$4,238+66.7%

$3,966+78.2%

Admin fee / account holder

$394

$148+166.3%

$5,796-93.2%

$100+293.4%

Provider

Service type

Compensation

KAUFMANN & GOBLE5+ years

Filed as: KAUFMANN AND GOBLE

Service code 15 · EIN 94-2614826

160 W SANTA CLARA ST SUITE 1550 · SAN JOSE, CA 95113

Recordkeeping

$239,644

UNITED ADMINISTRATIVE SERVICES5+ years

Service code 13 · EIN 94-1749354

Contract Administrator

$213,893

FERGUSON WELLMAN CAPITAL MANAGEMENT5+ years

Filed as: FERGUSON WELLMAN

Service code 28 · EIN 93-0646988

888 SW 5TH AVE 1200 · PORTLAND, OR 97204

Investment Management

$143,248

MATRIX TRUST COMPANY5+ years

Service code 21 · EIN 75-3182674

Bank Trustee

$121,010

WELLS FARGO BANK, N.A.5+ years

Filed as: WELLS FARGO ADVISORS

Service code 26 · EIN 23-2384840

Advisory (Participants)

$69,000

J HERRLE5+ years

Service code 17 · EIN 93-0692196

1800 SW FIRST AVENUE, SUITE 280 · PORTLAND, OR 97201

Pension Consulting

$35,720

EIDE BAILLY LLP2 years

Filed as: VAVRINEK, TRINE, DAY & CO., LLP

Service code 10 · EIN 95-2648289

Accounting

$33,401

KRAW LAW GROUP5+ years

Service code 29 · EIN 77-0171216

605 ELLIS STREET · MOUNTAIN VIEW, CA 94043

Legal

$27,187

IBEW LOCAL 332 PENSION PLAN PART B

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL 332 PENSION PLAN PART B

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