Retirement plan

IBEW LOCAL NO 640 & AZ CHAPTER NECA DEFINED CONTRIBUTION PLAN

Name: B OF T IBEW LOCAL NO 640 & AZ CHAPTER NECA DEFINED CONTRIBUTION PLAN - IBEW LOCAL NO 640 & AZ CHAPTER NECA DEFINED CONTRIBUTION PLAN (2024) Form 5500
Creator: B OF T IBEW LOCAL NO 640 & AZ CHAPTER NECA DEFINED CONTRIBUTION PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL NO 640 & AZ CHAPTER NECA DEFINED CONTRIBUTION PLAN, B OF T IBEW LOCAL NO 640 & AZ CHAPTER NECA DEFINED CONTRIBUTION PLAN

B OF T IBEW LOCAL NO 640 & AZ CHAPTER NECA DEFINED CONTRIBUTION PLANEIN 86-0323980Plan #002PY 2024

2001 W CAMELBACK RD STE B350 - PHOENIX, AZ 850157404602-248-8434

Other plans on this EIN

1 filing

#001Retirement-$228.6M assets

Prospect flagsLow assets / participantLow participant contribution

How to read this page

Total assets (EOY)

$137M

-0.1% from 2016

Total participants

6,401

-0.2% from 2016

Average account balance

$26,917

+0.1% from 2016

Annual return

10.32%

+5.80 pp from 2016

Benchmarks

See 80 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants5,000-9,999

Cohort80 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$136.95M

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.

5,088

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.

79.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$12.15M

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

+10.32%

Not enough data

1 years with return on file

Admin fee / account holder

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

$119

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 9 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY6 years Filed as: PRINCIPAL FINANCIAL GROUP Service code 15 711 HIGH ST. · DES MOINES, IA 50392	Recordkeeping	$272,892
ZENITH AMERICAN SOLUTIONS8 years Service code 13 · EIN 52-1590516	Contract Administrator	$119,779
ALAN BILLER & ASSOCIATES4 years Filed as: ALAN D BILLER & ASSOCIATES Service code 27 535 MIDDLEFIELD RD · MENLO PARK, CA 94025	Advisory (Plan)	$103,846
BALDWIN & BALDWIN PLLC3 years Filed as: BALDWIN MOFFITT BEHM LLP Service code 10 · EIN 46-4370753	Accounting	$25,966
THE SEGAL COMPANY8 years Service code 17 · EIN 13-1835864	Pension Consulting	$25,885
KELLEY FINANCIAL SERVICES, INC.1 year Filed as: KELLEY LAW GROUP Service code 29 3800 N CENTRAL AVE #530 · PHOENIX, AZ 85012	Legal	$21,415
THE SEGAL COMPANY7 years Filed as: SEGAL SELECT INSURANCE Service code 53 · EIN 46-0619194	Insurance Commissions	$17,643
NECASTAR7 years Service code 13 · EIN 86-0140480	Contract Administrator	$11,703
INTERNATIONAL PRINTING COMPANY2 years Filed as: INTERNATIONAL PRINTING CO Service code 36 2241 S 7TH STREET · PHOENIX, AZ 85034	Copying and duplicating	$7,162

Plan features & details

Pension benefit codes2C2F2G2E2T

Plan features

2C
Money purchase plan
Money purchase pension plan other than a target benefit plan.
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.
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

$606K

$96 / participant

Investment mgmt$377K62.1%
Legal$22K3.6%
Actuarial$26K4.3%
Other trustee fees$3K0.5%
Contract admin$117K19.3%
Other / not subdivided$62K10.2%

% of EOY assets

0.443%

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: BALDWIN MOFFITT BEHM LLP
Auditor EIN: 464370753
Audit fees: $25,966
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$26,917

$86,936-69.0%

$102,437-73.7%

$99,313-72.9%

Participation rate

79.3%

81.7%-2.4pp

74.5%+4.8pp

71.7%+7.6pp

Annual return

10.32%

14.99%-4.7pp

24.95%-14.6pp

17.67%-7.3pp

Employer contribution / active EE

$1,770

$3,925-54.9%

$3,871-54.3%

$3,264-45.8%

Participant deferral / active EE

$147

$3,825-96.2%

$5,060-97.1%

$5,346-97.3%

Admin fee / account holder

$119

$140-15.1%

$8,388-98.6%

$109+9.2%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY6 years

Filed as: PRINCIPAL FINANCIAL GROUP

Service code 15

711 HIGH ST. · DES MOINES, IA 50392

Recordkeeping

$272,892

ZENITH AMERICAN SOLUTIONS8 years

Service code 13 · EIN 52-1590516

Contract Administrator

$119,779

ALAN BILLER & ASSOCIATES4 years

Filed as: ALAN D BILLER & ASSOCIATES

Service code 27

535 MIDDLEFIELD RD · MENLO PARK, CA 94025

Advisory (Plan)

$103,846

BALDWIN & BALDWIN PLLC3 years

Filed as: BALDWIN MOFFITT BEHM LLP

Service code 10 · EIN 46-4370753

Accounting

$25,966

THE SEGAL COMPANY8 years

Service code 17 · EIN 13-1835864

Pension Consulting

$25,885

KELLEY FINANCIAL SERVICES, INC.1 year

Filed as: KELLEY LAW GROUP

Service code 29

3800 N CENTRAL AVE #530 · PHOENIX, AZ 85012

Legal

$21,415

THE SEGAL COMPANY7 years

Filed as: SEGAL SELECT INSURANCE

Service code 53 · EIN 46-0619194

Insurance Commissions

$17,643

NECASTAR7 years

Service code 13 · EIN 86-0140480

Contract Administrator

$11,703

INTERNATIONAL PRINTING COMPANY2 years

Filed as: INTERNATIONAL PRINTING CO

Service code 36

2241 S 7TH STREET · PHOENIX, AZ 85034

Copying and duplicating

$7,162

IBEW LOCAL NO 640 & AZ CHAPTER NECA DEFINED CONTRIBUTION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL NO 640 & AZ CHAPTER NECA DEFINED CONTRIBUTION 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