Retirement plan

IBEW LOCAL 968 PENSION FUND

Name: THE BOARD OF TRUSTEES OF THE IBEW LOCAL 968 PENSION FUND - IBEW LOCAL 968 PENSION FUND (2017) Form 5500
Creator: THE BOARD OF TRUSTEES OF THE IBEW LOCAL 968 PENSION FUND
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL 968 PENSION FUND, THE BOARD OF TRUSTEES OF THE IBEW LOCAL 968 PENSION FUND

THE BOARD OF TRUSTEES OF THE IBEW LOCAL 968 PENSION FUNDEIN 51-6106848Plan #001PY 2017

1845 7TH STREET - PARKERSBURG, WV 26101304-485-7412

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$63.3M

+8.1% from 2016

Total participants

468

-3.5% from 2016

Average account balance

$141,823

+12.0% from 2016

Annual return

16.05%

+11.09 pp from 2016

Benchmarks

See 1,124 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,124 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$73.20M

Not enough data

1 years with asset history on file

Average account balance

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

$178K

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.

411

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.

91.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.18M

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

+13.50%

Not enough data

1 years with return on file

Admin fee / account holder

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

$345

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 9 by compensation

Provider	Service type	Compensation
CHARLES SCHWAB & CO., INC.2 years Filed as: SCHWAB RETIREMENT PLAN SERVICES, IN Service code 15 · EIN 34-1479833	Recordkeeping	$113,070
RAYMOND JAMES FINANCIAL SERVICES1 year Filed as: RAYMOND JAMES Service code 28 · EIN 59-1237041	Investment Management	$47,090
AMERICAN REALTY ADVISORS3+ years Filed as: AMERICAN BENEFIT CORPORATION Service code 28 · EIN 55-0672859	Investment Management	$13,261
GRAY, GRAY & GRAY3+ years Filed as: GRAY GRIFFITH AND MAYS AC Service code 10 · EIN 55-0621482	Accounting	$13,100
PEOPLES INSURANCE AGENCY, LLC3+ years Service code 13 · EIN 31-1398962	Contract Administrator	$11,306
CASSIDY MYERS COGAN & VOEGELIN LC1 year Filed as: CASSIDY, COGAN, SHAPELL Service code 29 · EIN 55-0614690	Legal	$11,246
CHARLES SCHWAB & CO., INC.3+ years Filed as: CHARLES SCHWAB BANK Service code 25 · EIN 42-1558009	Directed Trustee	$6
CHARLES SCHWAB & CO., INC.3+ years Filed as: CHARLES SCHWAB & CO INC & AFFILIATE Service code 59	Shareholder Servicing	$0
CHARLES SCHWAB & CO., INC.3+ years Service code 59 · EIN 94-1737782	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2C2F2G2T

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit 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

2 tripped

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

$213K

$574 / participant

Investment mgmt$35K16.6%
Other / not subdivided$177K83.4%

% of EOY assets

0.336%

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: GRAY, GRIFFITH AND MAYS A.C.
Auditor EIN: 550621482
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$141,823

$60,545+134.2%

$92,240+53.8%

$69,631+103.7%

Participation rate

94.1%

72.2%+21.9pp

76.5%+17.6pp

70.7%+23.4pp

Annual return

16.05%

19.71%-3.7pp

176.29%-160.2pp

27571.02%-27555.0pp

Employer contribution / active EE

$4,652

$2,633+76.7%

$3,680+26.4%

$2,032+128.9%

Participant deferral / active EE

$63

$2,828-97.8%

$3,897-98.4%

$3,224-98.0%

Admin fee / account holder

$477

$145+229.6%

$5,194-90.8%

$110+332.1%

Provider

Service type

Compensation

CHARLES SCHWAB & CO., INC.2 years

Filed as: SCHWAB RETIREMENT PLAN SERVICES, IN

Service code 15 · EIN 34-1479833

Recordkeeping

$113,070

RAYMOND JAMES FINANCIAL SERVICES1 year

Filed as: RAYMOND JAMES

Service code 28 · EIN 59-1237041

Investment Management

$47,090

AMERICAN REALTY ADVISORS3+ years

Filed as: AMERICAN BENEFIT CORPORATION

Service code 28 · EIN 55-0672859

Investment Management

$13,261

GRAY, GRAY & GRAY3+ years

Filed as: GRAY GRIFFITH AND MAYS AC

Service code 10 · EIN 55-0621482

Accounting

$13,100

PEOPLES INSURANCE AGENCY, LLC3+ years

Service code 13 · EIN 31-1398962

Contract Administrator

$11,306

CASSIDY MYERS COGAN & VOEGELIN LC1 year

Filed as: CASSIDY, COGAN, SHAPELL

Service code 29 · EIN 55-0614690

Legal

$11,246

CHARLES SCHWAB & CO., INC.3+ years

Filed as: CHARLES SCHWAB BANK

Service code 25 · EIN 42-1558009

Directed Trustee

CHARLES SCHWAB & CO., INC.3+ years

Filed as: CHARLES SCHWAB & CO INC & AFFILIATE

Service code 59

Shareholder Servicing

CHARLES SCHWAB & CO., INC.3+ years

Service code 59 · EIN 94-1737782

Shareholder Servicing

IBEW LOCAL 968 PENSION FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL 968 PENSION FUND

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