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 (2022) 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 2022

11520 N CENTRAL EXPY STE 201 - DALLAS, TX 752436608214-775-6400

Prospect flagsLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$24.7M

-11.5% from 2021

Total participants

1,224

-6.3% from 2021

Average account balance

$20,160

-90.2% from 2021

Annual return

-14.56%

-28.28 pp from 2021

Benchmarks

See 502 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort502 peers

Snapshot2022

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 6 by compensation

Provider	Service type	Compensation
NECA IBEW LOCAL 5848+ years Service code 49 · EIN 73-1407442	Other Services	$168,626
PRUDENTIAL RETIREMENT INSURANCE AND1 year Filed as: PRUDENTIAL RETIREMENT INS & ANNUITY Service code 13 · EIN 06-1050034	Contract Administrator	$94,349
RBC WEALTH MANAGEMENT4 years Service code 27 100 CRESCENT COURT SUITE 1500 · DALLAS, TX 75201	Advisory (Plan)	$35,780
SOUTHWEST BENEFIT ADMINISTRATORS1 year Service code 14 · EIN 86-0785790	Plan Administrator	$28,228
CONNER & WINTERS1 year Filed as: CONNER & WINTERS LLC Service code 22 · EIN 73-1388566	Insurance Broker	$24,372
CUNEO, LAWSON, SHAY & STALEY1 year Filed as: CUNEO LAWSON SHAY & STALEY Service code 10 · EIN 44-0642126	Accounting	$11,177

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

$216K

$184 / participant

Investment mgmt$91K42.0%
Contract admin$27K12.4%
Other / not subdivided$99K45.6%

% of EOY assets

0.876%

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

$20,160

$76,774-73.7%

$112,263-82.0%

$77,906-74.1%

Participation rate

100.0%

80.2%+19.8pp

75.1%+24.9pp

73.7%+26.3pp

Annual return

-14.56%

-10.25%-4.3pp

27.49%-42.1pp

12.16%-26.7pp

Employer contribution / active EE

$1,255

$3,977-68.5%

$3,636-65.5%

$2,846-55.9%

Participant deferral / active EE

$530

$3,778-86.0%

$4,729-88.8%

$4,805-89.0%

Admin fee / account holder

$177

$239-26.1%

$6,410-97.2%

$133+33.2%

Provider

Service type

Compensation

NECA IBEW LOCAL 5848+ years

Service code 49 · EIN 73-1407442

Other Services

$168,626

PRUDENTIAL RETIREMENT INSURANCE AND1 year

Filed as: PRUDENTIAL RETIREMENT INS & ANNUITY

Service code 13 · EIN 06-1050034

Contract Administrator

$94,349

RBC WEALTH MANAGEMENT4 years

Service code 27

100 CRESCENT COURT SUITE 1500 · DALLAS, TX 75201

Advisory (Plan)

$35,780

SOUTHWEST BENEFIT ADMINISTRATORS1 year

Service code 14 · EIN 86-0785790

Plan Administrator

$28,228

CONNER & WINTERS1 year

Filed as: CONNER & WINTERS LLC

Service code 22 · EIN 73-1388566

Insurance Broker

$24,372

CUNEO, LAWSON, SHAY & STALEY1 year

Filed as: CUNEO LAWSON SHAY & STALEY

Service code 10 · EIN 44-0642126

Accounting

$11,177

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