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FORM 5500 DATA

I.B.E.W. Local Union No. 124 401k Plan

Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/01/1988
  • Net Assets as of 12/31/2017 $94,482,876
  • Plan Number5
  • Plan Type Multi-Employer
  • Is the plan collectively bargained?Yes
  • Did the plan file for an extension of time or the DFVC Program? No
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2017

  • Active (Eligible) Participants2,665
  • Retired or separated participants receiving benefits3
  • Other retired or separated participants entitled to future benefits57
  • Subtotal2,725
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits2
  • Total2,727
  • Total number of participants as of 01/01/20172,526
  • Number of participants with account balances1,748
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address305 E. 103Rd Terrace
  • CityKansas City
  • StateMO
  • Zip64114
  • Telephone(816) 943-0277
  • EIN43-1269910
  • Industry Code238210
  • Named AdministratorJohn Fennesy
  • Named Plan SponsorKenneth Borden

Plan Administrator Information

  • Administrator NameIbew Local Union 124
  • Address305 E. 103Rd Terrace
  • CityKansas City
  • StateMO
  • Zip64114
  • Telephone(816) 943-0277
  • Administrator EIN43-1269910

Audit Information

  • Audit StatusAudited
  • AuditorRubinbrown LLP
  • Auditor EIN43-0765316
  • Audit OpinionUnqualified
  • Audit Type Full Audit

Benefits Provided Under the Plan

Code Benefit Description
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.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all 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 A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
2T Participant-directed Account Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? Yes $34,549
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $500,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $18,190,776
Contributions $4,828,144
Cash Contributions $4,828,144
Cash from Employers $0
Cash from Participants $4,828,144
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $13,362,632
Total Interest $0
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $0
Total Dividends $850,278
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $0
Aggregate Proceeds $0
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $0
Real Estate $0
Other $0
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $6,256,534
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $6,255,820
Other Income $0
Expenses $5,572,311
Total Benefit Payments $5,371,183
Directly to participants or beneficiaries, including direct rollovers $5,371,183
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $201,128
Professional Fees $50,055
Contract Administrator Fees $130,990
Investment Advisory and management fees $16,352
Other Administrative Fees $3,731
Net Income $12,618,465
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2017 12/31/2016 Change YOY
Total Assets $94,519,542 $81,898,407 15.41%
Total noninterest-bearing cash $380,506 $388,306 -2.01%
Receivables $434,087 $401,982 7.99%
Employer Contributions $0 $0 0.0%
Participant Contributions $426,437 $394,332 8.14%
Other Contributions $7,650 $7,650 0.00%
General Investments $0 $0 0.0%
Interest-bearing cash $0 $0 0.0%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $0 $0 0.0%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $39,084,782 $34,593,750 12.98%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $54,620,167 $46,514,369 17.43%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $0 $0 0.0%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $36,666 $33,996 7.85%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $36,666 $33,996 7.85%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $94,482,876 $81,864,411 15.41%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Principal Life Insurance Company

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Principal Life Insurance Company Contract Administrator, Direct payment from the plan, Float revenue, Recordkeeping fees Contract Administrator $82,956 $0 $82,956
Local Union 124 Benefit Office Contract Administrator, Other services, Direct payment from the plan Party In Interest $48,034 $0 $48,034
Arnold, Newbold, Winter, Jackson Legal, Other services, Direct payment from the plan Legal $34,641 $0 $34,641
Marco Consulting Group Consulting (general), Consulting fees, Direct payment from the plan Consulting $16,352 $0 $16,352
Rubinbrown LLP Accounting (including auditing), Other services, Direct payment from the plan Accountant $14,600 $0 $14,600
Total $196,583 $0 $196,583

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Principal Lgcap S&P 500 Index Sa-I5 Principal Life Insurance Company DFE: Pooled Separate Account $10,738,375
Principal Smcap S&P 600 Index Sa-I5 Principal Life Insurance Company DFE: Pooled Separate Account $9,541,263
Principal Largecap Growth I Sa-I2 Principal Life Insurance Company DFE: Pooled Separate Account $5,485,797
Principal Core Plus Bond Sep Act-I2 Principal Life Insurance Company DFE: Pooled Separate Account $4,762,264
Principal Div Intl Sa-I5 Principal Life Insurance Company DFE: Pooled Separate Account $4,497,025
Principal Midcap S&P 400 Idx Sa-I5 Principal Life Insurance Company DFE: Pooled Separate Account $4,060,058
Total $39,084,782

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Principal Life Insurance Company 2,727
EIN 42-0127290
Industry Code 61271
Contract Number 427172
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $0
Value in Separate Accounts at Year End $39,084,782
Insurance Fees and Commissions $16,443
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
LPL Financial LLC 4707 Executive Dr San Diego, CA 92121 -3091 Insurance Agent or Broker $0 $16,443 PRORATED INCENTIVE, NOT DEDUCTED FROM PLAN
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Type of Contract Unspecified
Balance at the end of the previous year $0
Additions $0
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $0
Transferred from separate account $0
Other $0
Total of Balance and Additions $0
Deductions $0
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $0