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FORM 5500 DATA

IBEW Local Union No. 271 NECA 401k Retirement Plan

Overview

Plan Information

  • Plan Year02/01/2018 — 01/31/2019
  • Date of Plan02/01/1989
  • Net Assets as of 01/31/2019 $100,576,183
  • Plan Number2
  • Plan Type Multi-Employer
  • Is the plan collectively bargained?Yes
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 01/31/2019

  • Active (Eligible) Participants653
  • Retired or separated participants receiving benefits1
  • Other retired or separated participants entitled to future benefits95
  • Subtotal749
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits9
  • Total758
  • Total number of participants as of 02/01/2018739
  • Number of participants with account balances754
  • 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

  • Address608 W Douglas Ave Ste 104
  • CityWichita
  • StateKS
  • Zip67203-6123
  • Telephone(316) 265-7067
  • EIN48-0859301
  • Industry Code238210
  • Named AdministratorRebecca Dilts
  • Named Plan SponsorRebecca Dilts

Audit Information

  • Audit StatusAudited
  • AuditorMorrow & Co., LLC CPA's
  • Auditor EIN48-1142797
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
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.
3C Plan not intended to be qualified A plan not intended to be qualified under Code sections 401, 403, or 408.

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 $3,878
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 $3,448,553
Contributions $7,109,104
Cash Contributions $7,109,104
Cash from Employers $5,451,040
Cash from Participants $1,658,064
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $-3,660,551
Total Interest $81,651
Interest-Bearing Cash $81,651
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 $246,916
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 $-2,941,487
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 $-1,047,631
Other Income $0
Expenses $4,822,543
Total Benefit Payments $4,491,498
Directly to participants or beneficiaries, including direct rollovers $4,491,498
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 $331,045
Professional Fees $53,330
Contract Administrator Fees $88,584
Investment Advisory and management fees $171,379
Other Administrative Fees $17,752
Net Income $-1,373,990
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

01/31/2019 01/31/2018 Change YOY
Total Assets $100,768,122 $101,969,986 -1.18%
Total noninterest-bearing cash $47,998 $17,352 176.61%
Receivables $605,133 $614,478 -1.52%
Employer Contributions $491,865 $501,385 -1.90%
Participant Contributions $111,068 $113,093 -1.79%
Other Contributions $2,200 $0 0.0%
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 $8,253,944 $7,687,521 7.37%
Value of interest in pooled separate accounts $71,520,479 $72,805,548 -1.77%
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 $20,340,568 $20,845,087 -2.42%
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 $191,939 $19,813 868.75%
Benefit Claims Payable (1) $180,465 $1,814 9848.46%
Operating Payables (1) $9,039 $16,470 -45.12%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $2,435 $1,529 59.25%
Net Assets $100,576,183 $101,950,173 -1.35%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

There is no information on eligible indirect compensation for this plan.

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 Direct payment from the plan, Recordkeeping fees, Contract Administrator Contract Administrator $171,379 $0 $171,379
Kansas Chapter Neca Contract Administrator Contract Administrator $88,584 $0 $88,584
Mcafee & Taft Legal Attorney $28,352 $0 $28,352
Morrow & Co., LLC Accounting (including auditing) Auditor $24,978 $0 $24,978
Ima Wealth Inc Other services, Other commissions, Other fees Other Services $0 $19,829 $19,829
Signature Select Insurance services Insurance Rep/Broker $14,843 $0 $14,843
Total $328,136 $19,829 $347,965

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Ima Wealth Inc Principal Life Insurance Company Other services, Other commissions, Other fees Commissions and Referral/Service Fee $19,829
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

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
Prin Lgcp S&P 500 Index Sa-Z Principal Life Insurance Company DFE: Pooled Separate Account $19,120,798
Principal Stable Value Z Fund Principal Global Investors Trust Co DFE: Common/Collective Trust $8,253,944
Prin Lifetime 2050 Sep Acct-Z Principal Life Insurance Company DFE: Pooled Separate Account $5,502,735
Prin Lifetime 2040 Sep Acct-Z Principal Life Insurance Company DFE: Pooled Separate Account $5,449,510
Prin Midcap Sep Acct-Z Principal Life Insurance Company DFE: Pooled Separate Account $5,327,512
Principal U.S. Property Sa-Z Principal Life Insurance Company DFE: Pooled Separate Account $4,979,725
Prin Diversified Intl Sa-Z Principal Life Insurance Company DFE: Pooled Separate Account $3,875,952
Prin Lifetime 2055 Sep Acct-Z Principal Life Insurance Company DFE: Pooled Separate Account $3,727,142
Prin Core Plus Bond Sep Acct-Z Principal Life Insurance Company DFE: Pooled Separate Account $3,263,960
Prin Lifetime 2045 Sep Acct-Z Principal Life Insurance Company DFE: Pooled Separate Account $3,149,229
Prinl Lifetime 2030 Sep Acct-Z Principal Life Insurance Company DFE: Pooled Separate Account $2,244,753
Prin Lifetime 2035 Sep Act-Z Principal Life Insurance Company DFE: Pooled Separate Account $2,085,559
Prin Sam Cons Growth Sa-Z Principal Life Insurance Company DFE: Pooled Separate Account $1,853,195
Prin Sam Balanced Sep Acct-Z Principal Life Insurance Company DFE: Pooled Separate Account $1,615,936
Prin Smcap Value II Sep Acct-Z Principal Life Insurance Company DFE: Pooled Separate Account $1,298,316
Prin Lifetime 2025 Sep Acct-Z Principal Life Insurance Company DFE: Pooled Separate Account $980,140
Prin Lifetime 2020 Sep Acct-Z Principal Life Insurance Company DFE: Pooled Separate Account $892,641
Prin Fin Grp, Inc. Stock Sa-R6 Principal Life Insurance Company DFE: Pooled Separate Account $887,667
Prin Smcap S&P 600 Index Sa-Z Principal Life Insurance Company DFE: Pooled Separate Account $837,431
Prin Intl Smallcap Sep Acct-Z Principal Life Insurance Company DFE: Pooled Separate Account $825,895
Prin Sam Cons Balanced Sa-Z Principal Life Insurance Company DFE: Pooled Separate Account $779,939
Prin Midcap S&P 400 Idx Sa-Z Principal Life Insurance Company DFE: Pooled Separate Account $773,919
Prin Lifetime 2060 Sep Acct-Z Principal Life Insurance Company DFE: Pooled Separate Account $750,829
Prin Sam Strat Growth Sa-Z Principal Life Insurance Company DFE: Pooled Separate Account $738,963
Prin Lifetime Strat Inc Sa-Z Principal Life Insurance Company DFE: Pooled Separate Account $169,855
Prin Sam Flexible Income Sa-Z Principal Life Insurance Company DFE: Pooled Separate Account $160,030
Prin Lifetm 2010 Sep Acct-Z Principal Life Insurance Company DFE: Pooled Separate Account $107,888
Prin Lifetime 2015 Sep Acct-Z Principal Life Insurance Company DFE: Pooled Separate Account $90,345
Prin Lifetime 2065 Sep Acct-Z Principal Life Insurance Company DFE: Pooled Separate Account $30,614
Total $79,774,422

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Principal Life Insurance Company 758
EIN 42-0127290
Industry Code 61271
Contract Number 387615
Contract Year 02/01/2018 — 01/31/2019
Value in General Account at Year End $0
Value in Separate Accounts at Year End $71,520,480
Insurance Fees and Commissions $49,036
Persons Receiving Commissions and Fees
Agent/Broker Organization Code Commissions Paid Fees Paid Purpose of Fees Paid
Ima Wealth Inc 8200 E 32nd St N Wichita, KS 67226 Insurance Agent or Broker $49,036 $0
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 FLEXIBLE INVESTMENT ANNUITY
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