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 (2023) 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 2023

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)

$29.1M

+18.0% from 2022

Total participants

1,190

-2.8% from 2022

Average account balance

$24,467

+21.4% from 2022

Annual return

14.12%

+28.68 pp from 2022

Benchmarks

See 531 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants1,000-4,999

Cohort531 peers

Snapshot2023

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
NECA IBEW LOCAL 5849+ years Service code 27 · EIN 73-1407442	Advisory (Plan)	$169,048
PRUDENTIAL RETIREMENT INSURANCE AND2 years Filed as: PRUDENTIAL RETIREMENT INS & ANNUITY Service code 13 · EIN 06-1050034	Contract Administrator	$95,653
RBC WEALTH MANAGEMENT5 years Service code 27 · EIN 41-1416330	Advisory (Plan)	$39,295
SOUTHWEST BENEFIT ADMINISTRATORS2 years Service code 14 · EIN 86-0785790	Plan Administrator	$29,646
ACCOUNTING SOLUTIONS GROUP LLC1 year Service code 10 · EIN 81-2274769	Accounting	$10,750
CONNER & WINTERS2 years Filed as: CONNER & WINTERS LLC Service code 22 · EIN 73-1438856	Insurance Broker	$3,787

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

$231K

$204 / participant

Recordkeeping$96K41.5%
Investment mgmt$39K17.0%
Legal$31K13.3%
Other trustee fees$7K3.2%
Contract admin$25K11.0%
Other / not subdivided$32K14.0%

% of EOY assets

0.792%

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: $10,750
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$24,467

$88,479-72.3%

$96,538-74.7%

$80,169-69.5%

Participation rate

100.0%

79.9%+20.1pp

74.3%+25.7pp

72.9%+27.1pp

Annual return

14.12%

22.53%-8.4pp

35.74%-21.6pp

40.39%-26.3pp

Employer contribution / active EE

$1,520

$4,177-63.6%

$3,740-59.4%

$2,978-49.0%

Participant deferral / active EE

$629

$3,961-84.1%

$4,880-87.1%

$5,016-87.5%

Admin fee / account holder

$194

$211-8.3%

$6,737-97.1%

$145+33.7%

Provider

Service type

Compensation

NECA IBEW LOCAL 5849+ years

Service code 27 · EIN 73-1407442

Advisory (Plan)

$169,048

PRUDENTIAL RETIREMENT INSURANCE AND2 years

Filed as: PRUDENTIAL RETIREMENT INS & ANNUITY

Service code 13 · EIN 06-1050034

Contract Administrator

$95,653

RBC WEALTH MANAGEMENT5 years

Service code 27 · EIN 41-1416330

Advisory (Plan)

$39,295

SOUTHWEST BENEFIT ADMINISTRATORS2 years

Service code 14 · EIN 86-0785790

Plan Administrator

$29,646

ACCOUNTING SOLUTIONS GROUP LLC1 year

Service code 10 · EIN 81-2274769

Accounting

$10,750

CONNER & WINTERS2 years

Filed as: CONNER & WINTERS LLC

Service code 22 · EIN 73-1438856

Insurance Broker

$3,787

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