Retirement plan

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL UNION #756 PENSION FUND

Name: BOARD OF TRUSTEES IBEW LOCAL UNION # 756 PENSION FUND - INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL UNION #756 PENSION FUND (2024) Form 5500
Creator: BOARD OF TRUSTEES IBEW LOCAL UNION # 756 PENSION FUND
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL UNION #756 PENSION FUND, BOARD OF TRUSTEES IBEW LOCAL UNION # 756 PENSION FUND

BOARD OF TRUSTEES IBEW LOCAL UNION # 756 PENSION FUNDEIN 59-6556447Plan #001PY 2024

P.O. BOX 10132 - FLEMING ISLAND, FL 320060040904-902-7174

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$37.3M

+16.6% from 2023

Total participants

492

-13.8% from 2023

Average account balance

$75,729

+35.3% from 2023

Annual return

9.02%

+11.15 pp from 2023

Benchmarks

See 1,547 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,547 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$37.26M

Not enough data

1 years with asset history on file

Average account balance

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

$76K

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.

492

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.80M

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

+9.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$440

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 6 by compensation

Provider	Service type	Compensation
WELLS FARGO BANK, N.A.1 year Filed as: WELLS FARGO ADVISORS Service code 27 · EIN 34-1542819 1 INDEPENDENT DRIVE 24TH FLOOR · JACKSONVILLE, FL 32202	Advisory (Plan)	$76,799
SMITH, GAMBRELL & RUSSELL, LLP9+ years Filed as: SMITH, GAMBRELL, & RUSSELL, LLP Service code 29 · EIN 58-0967450 50 NORTH LAURA STREET, STE 2600 · JACKSONVILLE, FL 32202	Legal	$38,701
NATIONAL EMPLOYEE BENEFIT ADMIN9+ years Service code 13 · EIN 65-0498809 8657 BAYPINE ROAD, BLDG.5 STE 200 · JACKSONVILLE, FL 32256	Contract Administrator	$25,831
MY BENEFITS ADMINISTRATOR, LLC1 year Service code 13 · EIN 99-0940151 P.O. BOX 10132 · FLEMING ISLAND, FL 32006	Contract Administrator	$23,250
SAWGRASS ASSET MANAGEMENT1 year Filed as: SAWGRASS ASSET MANAGEMENT LLC Service code 28 · EIN 59-3488505 5000 SAWGRASS CIRCLE ST 32 · PONDRA VEDRA, FL 32082	Investment Management	$7,595
STEVEN D EISENBERG CPA PA9+ years Service code 10 · EIN 65-0140643 7700 CONGRESS AVENUE STE 1128 · BOCA RATON, FL 33487	Accounting	$6,975

Plan features & details

Pension benefit codes2C

Plan features

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

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$217K

$440 / participant

Investment mgmt$84K39.0%
Legal$39K17.9%
Contract admin$37K17.1%
Other / not subdivided$56K26.1%

% of EOY assets

0.581%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: STEVEN D. EISENBERG CPA, P.A.
Auditor EIN: 650140643
Audit fees: $6,975
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$75,729

$129,227-41.4%

$184,256-58.9%

$77,762-2.6%

Participation rate

100.0%

87.4%+12.6pp

86.8%+13.2pp

70.6%+29.4pp

Annual return

9.02%

33.24%-24.2pp

28.85%-19.8pp

31.27%-22.2pp

Employer contribution / active EE

$3,669

$4,412-16.9%

$6,427-42.9%

$2,728+34.5%

Participant deferral / active EE

$7,307-100.0%

$9,133-100.0%

$4,651-100.0%

Admin fee / account holder

$440

$256+72.2%

$13,899-96.8%

$433+1.7%

Provider

Service type

Compensation

WELLS FARGO BANK, N.A.1 year

Filed as: WELLS FARGO ADVISORS

Service code 27 · EIN 34-1542819

1 INDEPENDENT DRIVE 24TH FLOOR · JACKSONVILLE, FL 32202

Advisory (Plan)

$76,799

SMITH, GAMBRELL & RUSSELL, LLP9+ years

Filed as: SMITH, GAMBRELL, & RUSSELL, LLP

Service code 29 · EIN 58-0967450

50 NORTH LAURA STREET, STE 2600 · JACKSONVILLE, FL 32202

Legal

$38,701

NATIONAL EMPLOYEE BENEFIT ADMIN9+ years

Service code 13 · EIN 65-0498809

8657 BAYPINE ROAD, BLDG.5 STE 200 · JACKSONVILLE, FL 32256

Contract Administrator

$25,831

MY BENEFITS ADMINISTRATOR, LLC1 year

Service code 13 · EIN 99-0940151

P.O. BOX 10132 · FLEMING ISLAND, FL 32006

Contract Administrator

$23,250

SAWGRASS ASSET MANAGEMENT1 year

Filed as: SAWGRASS ASSET MANAGEMENT LLC

Service code 28 · EIN 59-3488505

5000 SAWGRASS CIRCLE ST 32 · PONDRA VEDRA, FL 32082

Investment Management

$7,595

STEVEN D EISENBERG CPA PA9+ years

Service code 10 · EIN 65-0140643

7700 CONGRESS AVENUE STE 1128 · BOCA RATON, FL 33487

Accounting

$6,975

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL UNION #756 PENSION FUND

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL UNION #756 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