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 (2023) 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 2023

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

Prospect flagsHigh feesLow participationLow employer contributionLow participant contributionFailed to transmit contributions

How to read this page

Total assets (EOY)

$15M

+10.1% from 2022

Total participants

655

+69.3% from 2022

Average account balance

$38,072

+8.1% from 2022

Annual return

16.10%

+28.25 pp from 2022

Benchmarks

See 1,502 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,502 peers

Snapshot2023

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

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

Service providers

Top 6 by compensation

Provider	Service type	Compensation
EDWARDS AND LEATHERS, P.C.9+ years Service code 10 · EIN 20-8739519 PO BOX 860 · BAYTOWN, TX 77521	Accounting	$14,500
BENEFIT RESOURCES, INC.3 years Service code 15 · EIN 76-0560942 8441 GULD FREEWAY · HOUSTON, TX 77017	Recordkeeping	$14,480
THE SEGAL COMPANY9+ 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
JULIE VISINTINE2 years Filed as: JULIE JACKSON Service code 14 2509 FM 2004 · TEXAS CITY, TX 77591	Plan Administrator	$5,983
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE CO Service code 64 8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$100
OPPENHEIMER8 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

5 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.)
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).

Expense breakdown

Schedule H Part II

Admin total

$184K

$304 / participant

Recordkeeping$14K7.9%
Investment mgmt$125K68.1%
Legal$7K3.8%
Actuarial$8K4.4%
Salaries / allowances$6K3.3%
Other / not subdivided$23K12.6%

% of EOY assets

1.226%

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: EDWARDS AND LEATHERS, P.C.
Auditor EIN: 208739519
Audit fees: $14,500
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$38,072

$93,010-59.1%

$96,538-60.6%

$74,473-48.9%

Participation rate

56.8%

71.6%-14.8pp

74.3%-17.6pp

70.7%-14.0pp

Annual return

16.10%

37.50%-21.4pp

35.74%-19.6pp

34.36%-18.3pp

Employer contribution / active EE

$657

$3,427-80.8%

$3,740-82.4%

$2,638-75.1%

Participant deferral / active EE

$90

$3,971-97.7%

$4,880-98.2%

$4,530-98.0%

Admin fee / account holder

$467

$633-26.3%

$6,737-93.1%

$347+34.5%

Provider

Service type

Compensation

EDWARDS AND LEATHERS, P.C.9+ years

Service code 10 · EIN 20-8739519

PO BOX 860 · BAYTOWN, TX 77521

Accounting

$14,500

BENEFIT RESOURCES, INC.3 years

Service code 15 · EIN 76-0560942

8441 GULD FREEWAY · HOUSTON, TX 77017

Recordkeeping

$14,480

THE SEGAL COMPANY9+ 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

JULIE VISINTINE2 years

Filed as: JULIE JACKSON

Service code 14

2509 FM 2004 · TEXAS CITY, TX 77591

Plan Administrator

$5,983

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE CO

Service code 64

8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$100

OPPENHEIMER8 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