Retirement plan

IBEW LOCAL UNION NO. 527 ANNUITY PLAN

Name: BOARD OF TRUSTEES OF IBEW LOCAL UNION NO. 527 ANNUITY PLAN - IBEW LOCAL UNION NO. 527 ANNUITY PLAN (2021) Form 5500
Creator: BOARD OF TRUSTEES OF IBEW LOCAL UNION NO. 527 ANNUITY PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL UNION NO. 527 ANNUITY PLAN, BOARD OF TRUSTEES OF IBEW LOCAL UNION NO. 527 ANNUITY PLAN

BOARD OF TRUSTEES OF IBEW LOCAL UNION NO. 527 ANNUITY PLANEIN 74-2091530Plan #001PY 2021

2509 FM 2004 - TEXAS CITY, TX 77591409-933-9800LinkedIn1001-5000 employeesconstruction

Prospect flagsHigh feesLow participationLow employer contributionLow participant contribution

How to read this page

Total assets (EOY)

$15.8M

+6.8% from 2020

Total participants

578

+15.8% from 2020

Average account balance

$45,634

+6.5% from 2020

Annual return

12.96%

+0.13 pp from 2020

Benchmarks

See 1,300 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,300 peers

Snapshot2021

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$15.68M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$42K

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.

373

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$451K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+11.50%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$539

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
MASSACHUSETTS MUTUAL LIFE INS. CO.4 years Filed as: MASSACHUSETTS MUTUAL LIFE INS. CO Service code 52 · EIN 04-1590850 1295 STATE ST. · SPRINGFIELD, MA 01111	Indirect Investment Fees	$46,549
EDWARDS AND LEATHERS, P.C.7+ years Service code 10 · EIN 20-8739519 PO BOX 860 · BAYTOWN, TX 77521	Accounting	$14,500
BENEFIT RESOURCES, INC.1 year Service code 15 · EIN 76-0560942 8441 GULF FREEWAY · HOUSTON, TX 77017	Recordkeeping	$14,400
MARY DELANEY CERETTO7+ years Filed as: MARY BUSTAMONTE Service code 14 2509 FM 2004 · TEXAS CITY, TX 77591	Plan Administrator	$10,255
THE SEGAL COMPANY7+ years Filed as: THE SEGAL CO Service code 17 · EIN 94-1503999 ONE PACES WEST 2727 PACES FERRY RD · ATLANTA, GA 30339	Pension Consulting	$8,000
OPPENHEIMER6 years Filed as: OPPENHEIMER LIFE AGENCY LTD Service code 27 · EIN 13-2886227 711 LOUISIANA ST., SUITE 1500 · HOUSTON, TX 77002	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2E2J2F2G2T

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).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all 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

4 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.
OpportunityLow employer contribution
Employer 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

$111K

$195 / participant

Investment mgmt$47K42.0%
Other / not subdivided$64K58.0%

% of EOY assets

0.702%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: EDWARDS AND LEATHERS, P.C.
Auditor EIN: 208739519
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$45,634

$78,275-41.7%

$109,173-58.2%

$86,821-47.4%

Participation rate

59.3%

73.8%-14.5pp

75.9%-16.6pp

72.3%-13.0pp

Annual return

12.96%

19.14%-6.2pp

25.75%-12.8pp

97.94%-85.0pp

Employer contribution / active EE

$513

$3,105-83.5%

$3,723-86.2%

$2,406-78.7%

Participant deferral / active EE

$140

$3,641-96.2%

$4,654-97.0%

$4,132-96.6%

Admin fee / account holder

$320

$198+61.5%

$6,755-95.3%

$170+89.0%

Provider

Service type

Compensation

MASSACHUSETTS MUTUAL LIFE INS. CO.4 years

Filed as: MASSACHUSETTS MUTUAL LIFE INS. CO

Service code 52 · EIN 04-1590850

1295 STATE ST. · SPRINGFIELD, MA 01111

Indirect Investment Fees

$46,549

EDWARDS AND LEATHERS, P.C.7+ years

Service code 10 · EIN 20-8739519

PO BOX 860 · BAYTOWN, TX 77521

Accounting

$14,500

BENEFIT RESOURCES, INC.1 year

Service code 15 · EIN 76-0560942

8441 GULF FREEWAY · HOUSTON, TX 77017

Recordkeeping

$14,400

MARY DELANEY CERETTO7+ years

Filed as: MARY BUSTAMONTE

Service code 14

2509 FM 2004 · TEXAS CITY, TX 77591

Plan Administrator

$10,255

THE SEGAL COMPANY7+ years

Filed as: THE SEGAL CO

Service code 17 · EIN 94-1503999

ONE PACES WEST 2727 PACES FERRY RD · ATLANTA, GA 30339

Pension Consulting

$8,000

OPPENHEIMER6 years

Filed as: OPPENHEIMER LIFE AGENCY LTD

Service code 27 · EIN 13-2886227

711 LOUISIANA ST., SUITE 1500 · HOUSTON, TX 77002

Advisory (Plan)

IBEW LOCAL UNION NO. 527 ANNUITY PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL UNION NO. 527 ANNUITY 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