Retirement plan

I.B.E.W. LOCAL NO. 728 PENSION FUND

Name: TRUSTEES OF I.B.E.W. LOCAL NO. 728 PENSION FUND - I.B.E.W. LOCAL NO. 728 PENSION FUND (2024) Form 5500
Creator: TRUSTEES OF I.B.E.W. LOCAL NO. 728 PENSION FUND
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, I.B.E.W. LOCAL NO. 728 PENSION FUND, TRUSTEES OF I.B.E.W. LOCAL NO. 728 PENSION FUND

TRUSTEES OF I.B.E.W. LOCAL NO. 728 PENSION FUNDEIN 59-6510428Plan #001PY 2024

2010 N.W. 150TH AVENUE, SUITE 100 - PEMBROKE PINES, FL 330281123954-266-6322

Prospect flagsHigh retiree %Low returnsLow employer contribution

How to read this page

Total assets (EOY)

$71.9M

+6.6% from 2023

Total participants

1,427

+1.3% from 2023

Average account balance

No prior year

Annual return

7.68%

-0.76 pp from 2023

Benchmarks

See 260 peers

Peer group

Industry23 - Construction

Plan typeDefined benefit

Participants250-999

Cohort260 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$71.88M

Not enough data

1 years with asset history on file

Average account balance

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

$50K

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.

888

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.

0.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.32M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+7.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 10 of 12 by compensation

Provider	Service type	Compensation
CAPFINANCIAL PARTNERS LLC10+ years Filed as: CAPTRUST Service code 27 · EIN 26-0058143	Advisory (Plan)	$135,232
NEBA10+ years Service code 13 · EIN 65-0498809	Contract Administrator	$121,876
BOYD WATTERSON ASSET MANAGEMENT3 years Filed as: BOYD WATTERSON ASSET MANAGEMENT LLC Service code 28 · EIN 34-1922005	Investment Management	$87,537
SUGARMAN & SUSSKIND PA10+ years Filed as: SUGARMAN AND SUSSKIND Service code 29 · EIN 59-2539792	Legal	$84,299
HORIZON ACTUARIAL SERVICES, LLC10+ years Filed as: HORIZON ACTUARIAL SERVICES Service code 11 · EIN 26-1370698	Actuarial	$52,792
LEGACY PROFESSIONALS LLP10+ years Service code 10 · EIN 32-0043599	Accounting	$30,968
COMERICA BANK10+ years Filed as: COMERICA Service code 19 · EIN 42-1741646	Securities Custodian	$27,365
IBEW-NECA SERVICE CENTER10+ years Filed as: IBEW LOCAL 728 UNION Service code 49 · EIN 59-1953076	Other Services	$16,878
MORGAN STANLEY SMITH BARNEY5 years Filed as: J.P. MORGAN ASSET MANAGEMENT Service code 28 · EIN 13-4994650	Investment Management	$14,609
PROFUND SOLUTIONS10+ years Filed as: PROFUND SOLUTIONS LLC Service code 16 9404 WEST 145TH TERRACE · OVERLAND PARK, KS 66221	Consulting	$10,800

Enrolled actuary

1 attachment

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

Plan features & details

Pension benefit codes1B1C

Plan features

1B
Benefits are primarily flat dollar
Benefits are primarily a flat dollar amount (including a dollar amount per year of service).
1C
Cash balance or similar plan
A cash balance formula in a defined benefit plan that expresses the accrued benefit in terms more common to a defined contribution plan such as a hypothetical account balance or single sum amount (includes personal account plan pension equity plan life cycle plan and cash account plan).

Opportunity flags

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
InformationalHigh retiree %
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II

Admin total

$711K

$1319 / participant

Recordkeeping$12K1.7%
Trustee / custodial$36K5.0%
Investment mgmt$247K34.8%
Legal$84K11.9%
Actuarial$51K7.2%
Other trustee fees$32K4.6%
Contract admin$118K16.6%
Other / not subdivided$130K18.2%

% of EOY assets

0.989%

all-in expense ratio

Categories reported

7 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: LEGACY PROFESSIONALS LLP
Auditor EIN: 320043599
Audit fees: $21,800
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$201,416-100.0%

Participation rate

0.0%

0.0%0pp

32.7%-32.7pp

0.0%0pp

Annual return

7.68%

11.08%-3.4pp

8.10%-0.4pp

8.76%-1.1pp

Employer contribution / active EE

$4,296

$13,910-69.1%

$28,649-85.0%

$16,650-74.2%

Participant deferral / active EE

$6,458-100.0%

$10-100.0%

$948-100.0%

Admin fee / account holder

$60,136-100.0%

Provider

Service type

Compensation

CAPFINANCIAL PARTNERS LLC10+ years

Filed as: CAPTRUST

Service code 27 · EIN 26-0058143

Advisory (Plan)

$135,232

NEBA10+ years

Service code 13 · EIN 65-0498809

Contract Administrator

$121,876

BOYD WATTERSON ASSET MANAGEMENT3 years

Filed as: BOYD WATTERSON ASSET MANAGEMENT LLC

Service code 28 · EIN 34-1922005

Investment Management

$87,537

SUGARMAN & SUSSKIND PA10+ years

Filed as: SUGARMAN AND SUSSKIND

Service code 29 · EIN 59-2539792

Legal

$84,299

HORIZON ACTUARIAL SERVICES, LLC10+ years

Filed as: HORIZON ACTUARIAL SERVICES

Service code 11 · EIN 26-1370698

Actuarial

$52,792

LEGACY PROFESSIONALS LLP10+ years

Service code 10 · EIN 32-0043599

Accounting

$30,968

COMERICA BANK10+ years

Filed as: COMERICA

Service code 19 · EIN 42-1741646

Securities Custodian

$27,365

IBEW-NECA SERVICE CENTER10+ years

Filed as: IBEW LOCAL 728 UNION

Service code 49 · EIN 59-1953076

Other Services

$16,878

MORGAN STANLEY SMITH BARNEY5 years

Filed as: J.P. MORGAN ASSET MANAGEMENT

Service code 28 · EIN 13-4994650

Investment Management

$14,609

PROFUND SOLUTIONS10+ years

Filed as: PROFUND SOLUTIONS LLC

Service code 16

9404 WEST 145TH TERRACE · OVERLAND PARK, KS 66221

Consulting

$10,800

I.B.E.W. LOCAL NO. 728 PENSION FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

I.B.E.W. LOCAL NO. 728 PENSION FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

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