Retirement plan

NECA IBEW LOCAL UNION NO 584 PROFIT SHARING PLAN

Name: BOARD OF TRUSTEES OF NECA-IBEW LU 584 PROFIT SHARING PLAN - NECA IBEW LOCAL UNION NO 584 PROFIT SHARING PLAN (2024) Form 5500
Creator: BOARD OF TRUSTEES OF NECA-IBEW LU 584 PROFIT SHARING PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NECA IBEW LOCAL UNION NO 584 PROFIT SHARING PLAN, BOARD OF TRUSTEES OF NECA-IBEW LU 584 PROFIT SHARING PLAN

BOARD OF TRUSTEES OF NECA-IBEW LU 584 PROFIT SHARING PLANEIN 73-1407442Plan #003PY 2024

2425 N CENTRAL EXPY STE 120 - RICHARDSON, TX 750802714469-423-6100

Prospect flagsLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$33.4M

+14.8% from 2023

Total participants

1,286

+8.1% from 2023

Average account balance

$26,730

+9.3% from 2023

Annual return

11.08%

-3.04 pp from 2023

Benchmarks

See 560 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort560 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$33.41M

Not enough data

1 years with asset history on file

Average account balance

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

$27K

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.

1,250

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.

97.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.72M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$2K

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

+11.08%

Not enough data

1 years with return on file

Admin fee / account holder

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

$195

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
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 13 · EIN 06-1050034	Contract Administrator	$213,120
NECA IBEW LOCAL 58410+ years Service code 27 · EIN 73-1407442	Advisory (Plan)	$184,676
RBC WEALTH MANAGEMENT6 years Service code 27 · EIN 41-1416330	Advisory (Plan)	$47,117
SOUTHWEST BENEFIT ADMINISTRATORS3 years Service code 14 · EIN 86-0785790	Plan Administrator	$30,225
ACCOUNTING SOLUTIONS GROUP LLC2 years Service code 10 · EIN 81-2274769	Accounting	$11,075
CONNER & WINTERS3 years Filed as: CONNER & WINTERS LLC Service code 22 · EIN 73-1438856	Insurance Broker	$0

Plan features & details

Pension benefit codes2E2F2H2J2T

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
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.
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.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$244K

$199 / participant

Recordkeeping$107K43.7%
Investment mgmt$47K19.3%
Legal$25K10.2%
Other trustee fees$4K1.6%
Contract admin$28K11.3%
Other / not subdivided$34K13.8%

% of EOY assets

0.730%

all-in expense ratio

Categories reported

5 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: ACCOUNTING SOLUTIONS GROUP LLC
Auditor EIN: 812274769
Audit fees: $11,075
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$26,730

$241,850-88.9%

$102,437-73.9%

$200,096-86.6%

Participation rate

97.1%

78.3%+18.7pp

74.5%+22.6pp

72.0%+25.0pp

Annual return

11.08%

17.67%-6.6pp

24.95%-13.9pp

34.26%-23.2pp

Employer contribution / active EE

$1,432

$4,253-66.3%

$3,871-63.0%

$3,038-52.9%

Participant deferral / active EE

$793

$3,961-80.0%

$5,060-84.3%

$5,090-84.4%

Admin fee / account holder

$195

$288-32.3%

$8,388-97.7%

$269-27.6%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 13 · EIN 06-1050034

Contract Administrator

$213,120

NECA IBEW LOCAL 58410+ years

Service code 27 · EIN 73-1407442

Advisory (Plan)

$184,676

RBC WEALTH MANAGEMENT6 years

Service code 27 · EIN 41-1416330

Advisory (Plan)

$47,117

SOUTHWEST BENEFIT ADMINISTRATORS3 years

Service code 14 · EIN 86-0785790

Plan Administrator

$30,225

ACCOUNTING SOLUTIONS GROUP LLC2 years

Service code 10 · EIN 81-2274769

Accounting

$11,075

CONNER & WINTERS3 years

Filed as: CONNER & WINTERS LLC

Service code 22 · EIN 73-1438856

Insurance Broker

NECA IBEW LOCAL UNION NO 584 PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NECA IBEW LOCAL UNION NO 584 PROFIT SHARING PLAN

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