Retirement plan

IBEW LOCAL 309 401(K) RETIREMENT PLAN

Name: TRUSTEES OF IBEW LOCAL 309-401(K) RETIREMENT PLAN - IBEW LOCAL 309 401(K) RETIREMENT PLAN (2023) Form 5500
Creator: TRUSTEES OF IBEW LOCAL 309-401(K) RETIREMENT PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL 309 401(K) RETIREMENT PLAN, TRUSTEES OF IBEW LOCAL 309-401(K) RETIREMENT PLAN

TRUSTEES OF IBEW LOCAL 309-401(K) RETIREMENT PLANEIN 84-1634780Plan #001PY 2023

2000A MALL STREET, STE A - COLLINSVILLE, IL 622345133618-344-2002

Prospect flagsLow participant contribution

How to read this page

Total assets (EOY)

$22.2M

+23.3% from 2022

Total participants

549

+2.8% from 2022

Average account balance

$40,356

+19.7% from 2022

Annual return

17.60%

+34.57 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

$26.08M

Not enough data

1 years with asset history on file

Average account balance

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

$44K

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.

591

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.

97.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.93M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+12.44%

Not enough data

1 years with return on file

Admin fee / account holder

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

$141

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 4 by compensation

Provider	Service type	Compensation
AMERICAN UNITED LIFE INSURANCE CO3 years Filed as: ONEAMERICA RETIREMENT SERVICES LLC Service code 15 · EIN 46-5378846 10100 INNOVATION DRIVE, SUITE 250 · WAUWATOSA, WI 53226	Recordkeeping	$51,035
SCHEFFEL BOYLE3 years Service code 10 · EIN 37-1206530 143 N KANSAS ST · EDWARDSVILLE, IL 62025	Accounting	$13,750
LOCAL 309 ELECTRICAL HEALTH AND WEL9+ years Service code 14 · EIN 37-6039515 2000A MALL STREET, STE A · COLLINSVILLE, IL 62234	Plan Administrator	$13,372
SCHUCHAT, COOK & WERNER4 years Filed as: SCHUCHAT, COOK, & WERNER Service code 29 · EIN 43-0763010 1221 LOCUST ST., STE 250 · ST. LOUIS, MO 63103	Legal	$7,872

Plan features & details

Pension benefit codes2J

Plan features

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.

Opportunity flags

1 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$90K

$167 / participant

Legal$8K8.7%
Contract admin$51K56.5%
Other / not subdivided$31K34.8%

% of EOY assets

0.408%

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: SCHEFFEL BOYLE
Auditor EIN: 371206530
Audit fees: $13,750
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$40,356

$93,010-56.6%

$96,515-58.2%

$74,460-45.8%

Participation rate

100.0%

71.6%+28.4pp

74.3%+25.7pp

70.7%+29.3pp

Annual return

17.60%

37.50%-19.9pp

35.73%-18.1pp

34.38%-16.8pp

Employer contribution / active EE

$2,500

$3,427-27.1%

$3,740-33.1%

$2,638-5.2%

Participant deferral / active EE

$950

$3,971-76.1%

$4,880-80.5%

$4,530-79.0%

Admin fee / account holder

$164

$633-74.0%

$6,735-97.6%

$348-52.7%

Provider

Service type

Compensation

AMERICAN UNITED LIFE INSURANCE CO3 years

Filed as: ONEAMERICA RETIREMENT SERVICES LLC

Service code 15 · EIN 46-5378846

10100 INNOVATION DRIVE, SUITE 250 · WAUWATOSA, WI 53226

Recordkeeping

$51,035

SCHEFFEL BOYLE3 years

Service code 10 · EIN 37-1206530

143 N KANSAS ST · EDWARDSVILLE, IL 62025

Accounting

$13,750

LOCAL 309 ELECTRICAL HEALTH AND WEL9+ years

Service code 14 · EIN 37-6039515

2000A MALL STREET, STE A · COLLINSVILLE, IL 62234

Plan Administrator

$13,372

SCHUCHAT, COOK & WERNER4 years

Filed as: SCHUCHAT, COOK, & WERNER

Service code 29 · EIN 43-0763010

1221 LOCUST ST., STE 250 · ST. LOUIS, MO 63103

Legal

$7,872

IBEW LOCAL 309 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL 309 401(K) RETIREMENT 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