Retirement plan

NECA - IBEW LOCAL UNION NO. 584 PROFIT SHARING PLAN

Name: BOARD OF TRUSTEES OF NECA-IBEW LU NUMBER 584 PROFIT SHARING PLAN - NECA - IBEW LOCAL UNION NO. 584 PROFIT SHARING PLAN (2019) Form 5500
Creator: BOARD OF TRUSTEES OF NECA-IBEW LU NUMBER 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 NUMBER 584 PROFIT SHARING PLAN

BOARD OF TRUSTEES OF NECA-IBEW LU NUMBER 584 PROFIT SHARING PLANEIN 73-1407442Plan #003PY 2019

2425 N CENTRAL EXPWY STE 120 - RICHARDSON, TX 75080469-423-6100

Prospect flagsLow assets / participantLow participant contributionCorrective distributions

How to read this page

Total assets (EOY)

$20.5M

+28.0% from 2018

Total participants

1,195

+36.9% from 2018

Average account balance

$17,114

-6.5% from 2018

Annual return

22.53%

+28.26 pp from 2018

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

$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

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Service providers

Top 8 by compensation

Provider	Service type	Compensation
PRUDENTIAL RETIREMENT INSURANCE AND5+ years Filed as: PRUDENTIAL RETIREMENT INSURANCE Service code 13 · EIN 06-1050034	Contract Administrator	$60,879
NECA IBEW LOCAL 5845+ years Service code 49 · EIN 73-1407442	Other Services	$48,798
CONNER & WINTERS4 years Filed as: CONNER AND WINTERS Service code 22 · EIN 73-1388566	Insurance Broker	$26,067
CUNEO, LAWSON, SHAY & STALEY5+ years Filed as: CUNEO, LAWSON, SHAY AND STALEY Service code 10 · EIN 44-0642126	Accounting	$15,472
SOUTHWEST SERVICE ADMINISTRATORS1 year Service code 14 2550 W UNION HILLS DRIVE STE 250 · PHOENIX, AZ 85027	Plan Administrator	$12,198
MORGAN STANLEY SMITH BARNEY1 year Filed as: MORGAN STANLEY CONSULTING Service code 27 200 CRESCENT COURT SUITE 900 · DALLAS, TX 75201	Advisory (Plan)	$6,722
AMERIBEN5+ years Service code 12 · EIN 82-0497661	Claims processing	$5,362
RBC WEALTH MANAGEMENT1 year Service code 27 100 CRESCENT COURT STE 1500 · DALLAS, TX 75201	Advisory (Plan)	$4,074

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

3 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.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$193K

$170 / participant

Investment mgmt$120K62.4%
Contract admin$16K8.0%
Other / not subdivided$57K29.6%

% of EOY assets

0.944%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CUNEO LAWSON SHAY & STALEY
Auditor EIN: 440642126
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$17,114

$66,051-74.1%

$92,915-81.6%

$77,775-78.0%

Participation rate

100.0%

81.0%+19.0pp

76.0%+24.0pp

73.2%+26.8pp

Annual return

22.53%

20.69%+1.8pp

109.45%-86.9pp

32.58%-10.0pp

Employer contribution / active EE

$864

$3,426-74.8%

$3,653-76.3%

$2,504-65.5%

Participant deferral / active EE

$841

$3,013-72.1%

$4,238-80.2%

$3,966-78.8%

Admin fee / account holder

$162

$148+9.3%

$5,796-97.2%

$100+61.5%

Provider

Service type

Compensation

PRUDENTIAL RETIREMENT INSURANCE AND5+ years

Filed as: PRUDENTIAL RETIREMENT INSURANCE

Service code 13 · EIN 06-1050034

Contract Administrator

$60,879

NECA IBEW LOCAL 5845+ years

Service code 49 · EIN 73-1407442

Other Services

$48,798

CONNER & WINTERS4 years

Filed as: CONNER AND WINTERS

Service code 22 · EIN 73-1388566

Insurance Broker

$26,067

CUNEO, LAWSON, SHAY & STALEY5+ years

Filed as: CUNEO, LAWSON, SHAY AND STALEY

Service code 10 · EIN 44-0642126

Accounting

$15,472

SOUTHWEST SERVICE ADMINISTRATORS1 year

Service code 14

2550 W UNION HILLS DRIVE STE 250 · PHOENIX, AZ 85027

Plan Administrator

$12,198

MORGAN STANLEY SMITH BARNEY1 year

Filed as: MORGAN STANLEY CONSULTING

Service code 27

200 CRESCENT COURT SUITE 900 · DALLAS, TX 75201

Advisory (Plan)

$6,722

AMERIBEN5+ years

Service code 12 · EIN 82-0497661

Claims processing

$5,362

RBC WEALTH MANAGEMENT1 year

Service code 27

100 CRESCENT COURT STE 1500 · DALLAS, TX 75201

Advisory (Plan)

$4,074

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