Retirement plan

IBEW LOCAL 40 - NECA 401(K) PLAN

Name: BOARD OF TRUSTEES, IBEW LOCAL 40 - NECA 401K PLAN - IBEW LOCAL 40 - NECA 401(K) PLAN (2024) Form 5500
Creator: BOARD OF TRUSTEES, IBEW LOCAL 40 - NECA 401K PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, IBEW LOCAL 40 - NECA 401(K) PLAN, BOARD OF TRUSTEES, IBEW LOCAL 40 - NECA 401K PLAN

BOARD OF TRUSTEES, IBEW LOCAL 40 - NECA 401K PLANEIN 91-2018522Plan #001PY 2024

3530 CAMINO DEL RIO N STE 110 - SAN DIEGO, CA 92108858-794-1673

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$35.1M

+26.9% from 2023

Total participants

421

-1.2% from 2023

Average account balance

$83,336

+28.4% from 2023

Annual return

25.54%

+13.20 pp from 2023

Benchmarks

See 1,563 peers

Peer group

Industry23 - Construction

Plan typeDefined contribution

Participants250-999

Cohort1,563 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$40.31M

Not enough data

1 years with asset history on file

Average account balance

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

$102K

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.

394

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

$2.02M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+12.07%

Not enough data

1 years with return on file

Admin fee / account holder

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

$787

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
TRANSAMERICA RETIREMENT SOLUTIONS8 years Service code 12 · EIN 13-3689044	Participant communication; Float reve...	$38,338
COAST BENEFITS9+ years Service code 13 · EIN 33-0670046	Contract Administrator	$36,000
GILBERT & SACKMAN8 years Service code 29 · EIN 95-2906951	Legal	$24,138
BUCKINGHAM STRATEGIC PARTNERS9+ years Filed as: FOCUS INVESTMENT GROUP Service code 27 · EIN 33-0606466	Advisory (Plan)	$24,000
MILLER KAPLAN ARASE LLP9+ years Service code 10 · EIN 95-2036255	Accounting	$15,025
NATIONAL FINANCIAL SERVICES8 years Service code 33 · EIN 04-3523567	Securities brokerage commissions and ...	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T

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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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.
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

$187K

$466 / participant

Recordkeeping$41K22.2%
Investment mgmt$24K12.9%
Legal$24K12.9%
Contract admin$36K19.3%
Other / not subdivided$61K32.8%

% of EOY assets

0.532%

all-in expense ratio

Categories reported

4 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: MILLER KAPLAN ARASE LLP
Auditor EIN: 952036255
Audit fees: $12,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$83,336

$82,980+0.4%

$103,378-19.4%

$77,692+7.3%

Participation rate

100.0%

71.5%+28.5pp

74.5%+25.5pp

70.6%+29.4pp

Annual return

25.54%

19.11%+6.4pp

24.91%+0.6pp

31.25%-5.7pp

Employer contribution / active EE

$3,408

$3,554-4.1%

$3,870-11.9%

$2,726+25.0%

Participant deferral / active EE

$173

$4,109-95.8%

$5,058-96.6%

$4,648-96.3%

Admin fee / account holder

$443

$639-30.6%

$8,401-94.7%

$431+3.0%

Provider

Service type

Compensation

TRANSAMERICA RETIREMENT SOLUTIONS8 years

Service code 12 · EIN 13-3689044

Participant communication; Float reve...

$38,338

COAST BENEFITS9+ years

Service code 13 · EIN 33-0670046

Contract Administrator

$36,000

GILBERT & SACKMAN8 years

Service code 29 · EIN 95-2906951

Legal

$24,138

BUCKINGHAM STRATEGIC PARTNERS9+ years

Filed as: FOCUS INVESTMENT GROUP

Service code 27 · EIN 33-0606466

Advisory (Plan)

$24,000

MILLER KAPLAN ARASE LLP9+ years

Service code 10 · EIN 95-2036255

Accounting

$15,025

NATIONAL FINANCIAL SERVICES8 years

Service code 33 · EIN 04-3523567

Securities brokerage commissions and ...

IBEW LOCAL 40 - NECA 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

IBEW LOCAL 40 - NECA 401(K) 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