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 (2020) 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 2020

2425 N CENTRAL EXPWY STE 120 - RICHARDSON, TX 750802714214-775-6400

Prospect flagsLow assets / participantLow participant contributionCorrective distributions

How to read this page

Total assets (EOY)

$24.2M

+18.4% from 2019

Total participants

1,372

+14.8% from 2019

Average account balance

$17,644

+3.1% from 2019

Annual return

10.36%

-12.17 pp from 2019

Benchmarks

See 458 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort458 peers

Snapshot2020

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 10 of 13 by compensation

Provider	Service type	Compensation
PRUDENTIAL RETIREMENT INSURANCE AND6+ years Filed as: PRUDENTIAL RETIREMENT INSURANCE Service code 13 · EIN 06-1050034	Contract Administrator	$181,669
NECA IBEW LOCAL 5846+ years Service code 49 · EIN 73-1407442	Other Services	$75,548
SOUTHWEST SERVICE ADMINISTRATORS2 years Service code 14 · EIN 86-0785790	Plan Administrator	$34,964
CONNER & WINTERS5 years Filed as: CONNER AND WINTERS Service code 22 · EIN 73-1388566	Insurance Broker	$29,733
RBC WEALTH MANAGEMENT2 years Service code 27 100 CRESCENT COURT SUITE 1500 · DALLAS, TX 75201	Advisory (Plan)	$29,086
CUNEO, LAWSON, SHAY & STALEY6+ years Filed as: CUNEO, LAWSON, SHAY AND STALEY Service code 10 · EIN 44-0642126	Accounting	$14,745
DELAWARE INVESTMENTS1 year Filed as: DELAWARE MANAGEMENT COMPANY Service code 15	Recordkeeping	$0
HARRIS1 year Filed as: HARRIS ASSOCIATES L.P. Service code 15	Recordkeeping	$0
LEGG MASON1 year Filed as: LEGG MASON PARTNERS FUND ADVISOR Service code 15	Recordkeeping	$0
PIMCO FUNDS1 year Filed as: PACIFIC INVESTMENT MANAGEMENT CO Service code 15	Recordkeeping	$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

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

$301K

$229 / participant

Investment mgmt$182K60.3%
Contract admin$27K8.9%
Other / not subdivided$93K30.8%

% of EOY assets

1.245%

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

$17,644

$81,719-78.4%

$101,275-82.6%

$90,274-80.5%

Participation rate

100.0%

80.7%+19.3pp

75.8%+24.2pp

73.4%+26.6pp

Annual return

10.36%

337.64%-327.3pp

46.48%-36.1pp

53.97%-43.6pp

Employer contribution / active EE

$906

$3,622-75.0%

$3,660-75.2%

$2,523-64.1%

Participant deferral / active EE

$1,213

$3,310-63.3%

$4,371-72.2%

$4,231-71.3%

Admin fee / account holder

$220

$162+35.7%

$5,948-96.3%

$114+92.6%

Provider

Service type

Compensation

PRUDENTIAL RETIREMENT INSURANCE AND6+ years

Filed as: PRUDENTIAL RETIREMENT INSURANCE

Service code 13 · EIN 06-1050034

Contract Administrator

$181,669

NECA IBEW LOCAL 5846+ years

Service code 49 · EIN 73-1407442

Other Services

$75,548

SOUTHWEST SERVICE ADMINISTRATORS2 years

Service code 14 · EIN 86-0785790

Plan Administrator

$34,964

CONNER & WINTERS5 years

Filed as: CONNER AND WINTERS

Service code 22 · EIN 73-1388566

Insurance Broker

$29,733

RBC WEALTH MANAGEMENT2 years

Service code 27

100 CRESCENT COURT SUITE 1500 · DALLAS, TX 75201

Advisory (Plan)

$29,086

CUNEO, LAWSON, SHAY & STALEY6+ years

Filed as: CUNEO, LAWSON, SHAY AND STALEY

Service code 10 · EIN 44-0642126

Accounting

$14,745

DELAWARE INVESTMENTS1 year

Filed as: DELAWARE MANAGEMENT COMPANY

Service code 15

Recordkeeping

HARRIS1 year

Filed as: HARRIS ASSOCIATES L.P.

Service code 15

Recordkeeping

LEGG MASON1 year

Filed as: LEGG MASON PARTNERS FUND ADVISOR

Service code 15

Recordkeeping

PIMCO FUNDS1 year

Filed as: PACIFIC INVESTMENT MANAGEMENT CO

Service code 15

Recordkeeping

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