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 (2021) 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 2021

2525 N CENTRAL EXPY STE 120 - RICHARDSON, TX 750802006214-775-6400

Prospect flagsHigh feesLow participationLow participant contribution

How to read this page

Total assets (EOY)

$27.9M

+15.2% from 2020

Total participants

1,306

-4.8% from 2020

Average account balance

$204,978

+1061.7% from 2020

Annual return

13.72%

+3.36 pp from 2020

Benchmarks

See 479 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort479 peers

Snapshot2021

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 12 by compensation

Provider	Service type	Compensation
NECA IBEW LOCAL 5847+ years Service code 49 · EIN 73-1407442	Other Services	$241,989
PRUDENTIAL RETIREMENT INSURANCE AND7+ years Filed as: PRUDENTIAL RETIREMENT INSURANCE Service code 13 · EIN 06-1050034	Contract Administrator	$95,490
RBC WEALTH MANAGEMENT1 year Filed as: RBC WEALTH Service code 27 100 CRESCENT COURT SUITE 1500 · DALLAS, TX 75201	Advisory (Plan)	$39,466
SOUTHWEST SERVICE ADMINISTRATORS3 years Service code 14 · EIN 86-0785790	Plan Administrator	$30,920
CONNER & WINTERS6 years Filed as: CONNER AND WINTERS Service code 22 · EIN 73-1388566	Insurance Broker	$19,757
CUNEO, LAWSON, SHAY & STALEY6 years Filed as: CUNEO LAWSON SHAY AND STALEY Service code 10 · EIN 44-0642126	Accounting	$12,319
DELAWARE INVESTMENTS2 years Filed as: DELAWARE MANAGEMENT COMPANY Service code 15	Recordkeeping	$0
LEGG MASON2 years Filed as: LEGG MASON PARTNERS FUND ADVISOR Service code 15	Recordkeeping	$0
PIMCO FUNDS1 year Filed as: PACIFIC INVESTMENT MANAGEMENT Service code 15	Recordkeeping	$0
TEACHERS INSURANCE & ANNUITY ASSOC1 year Filed as: TEACHERS ADVISORS LLC 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 participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$216K

$173 / participant

Investment mgmt$96K44.5%
Contract admin$29K13.2%
Other / not subdivided$91K42.3%

% of EOY assets

0.775%

all-in expense ratio

Categories reported

2 / 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: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$204,978

$88,770+130.9%

$109,188+87.7%

$93,010+120.4%

Participation rate

6.4%

81.5%-75.1pp

75.9%-69.5pp

73.9%-67.5pp

Annual return

13.72%

60.64%-46.9pp

25.76%-12.0pp

158.70%-145.0pp

Employer contribution / active EE

$1,159

$3,780-69.3%

$3,723-68.9%

$2,705-57.1%

Participant deferral / active EE

$618

$3,630-83.0%

$4,654-86.7%

$4,561-86.4%

Admin fee / account holder

$1,589

$172+822.3%

$6,755-76.5%

$152+947.8%

Provider

Service type

Compensation

NECA IBEW LOCAL 5847+ years

Service code 49 · EIN 73-1407442

Other Services

$241,989

PRUDENTIAL RETIREMENT INSURANCE AND7+ years

Filed as: PRUDENTIAL RETIREMENT INSURANCE

Service code 13 · EIN 06-1050034

Contract Administrator

$95,490

RBC WEALTH MANAGEMENT1 year

Filed as: RBC WEALTH

Service code 27

100 CRESCENT COURT SUITE 1500 · DALLAS, TX 75201

Advisory (Plan)

$39,466

SOUTHWEST SERVICE ADMINISTRATORS3 years

Service code 14 · EIN 86-0785790

Plan Administrator

$30,920

CONNER & WINTERS6 years

Filed as: CONNER AND WINTERS

Service code 22 · EIN 73-1388566

Insurance Broker

$19,757

CUNEO, LAWSON, SHAY & STALEY6 years

Filed as: CUNEO LAWSON SHAY AND STALEY

Service code 10 · EIN 44-0642126

Accounting

$12,319

DELAWARE INVESTMENTS2 years

Filed as: DELAWARE MANAGEMENT COMPANY

Service code 15

Recordkeeping

LEGG MASON2 years

Filed as: LEGG MASON PARTNERS FUND ADVISOR

Service code 15

Recordkeeping

PIMCO FUNDS1 year

Filed as: PACIFIC INVESTMENT MANAGEMENT

Service code 15

Recordkeeping

TEACHERS INSURANCE & ANNUITY ASSOC1 year

Filed as: TEACHERS ADVISORS LLC

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