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FORM 5500 DATA

IBEW Local Union 668 Employees Pension Plan

Overview

Plan Information

  • Plan Year06/01/2016 — 05/31/2017
  • Date of Plan06/01/1988
  • Net Assets as of 05/31/2017 $40,650,309
  • Plan Number2
  • Plan Type Multi-Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 05/31/2017

  • Active (Eligible) Participants370
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits120
  • Subtotal490
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total490
  • Total number of participants as of 06/01/2016482
  • Number of participants with account balances490
  • 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

  • Address2535 S. 30th St., Suite One
  • CityLafayette
  • StateIN
  • Zip47905-2786
  • Telephone(765) 474-1021
  • EIN31-1252733
  • Industry Code238210
  • Named AdministratorAnn Howard

Plan Administrator Information

  • Administrator NameIbew Local Union 668
  • AddressPo Box 50440
  • CityIndianapolis
  • StateIN
  • Zip46250
  • Telephone(317) 474-1021
  • Administrator EIN31-1252733

Audit Information

  • Audit StatusAudited
  • AuditorThieme & Adair CPAS
  • Auditor EIN35-1929868
  • Audit OpinionUnqualified
  • Audit Type Full Audit

Benefits Provided Under the Plan

Code Benefit Description
2A Age/Service Weighted or New Comparability or Similar Plan Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New Comparability or Similar Plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the threshold or additional rate allowed under the permitted disparity rules of section 401(l)
2C Money purchase A pension plan, other than a target benefit plan that requires a fixed percentage of compensation to be contributed to each eligible employee.
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.
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? No
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 $7,318,678
Contributions $2,351,554
Cash Contributions $2,351,554
Cash from Employers $2,147,752
Cash from Participants $0
Others (including rollovers) $203,802
Noncash Contributions $0
Total Earnings on Investments $4,967,124
Total Interest $239
Interest-Bearing Cash $239
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 $0
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 $0
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 $4,966,885
Other Income $0
Expenses $1,438,643
Total Benefit Payments $1,371,046
Directly to participants or beneficiaries, including direct rollovers $1,220,635
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $150,411
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $67,597
Professional Fees $14,272
Contract Administrator Fees $22,170
Investment Advisory and management fees $17,500
Other Administrative Fees $13,655
Net Income $5,880,035
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

05/31/2017 05/31/2016 Change YOY
Total Assets $40,650,309 $34,770,274 16.91%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $226,209 $246,665 -8.29%
Employer Contributions $226,209 $246,665 -8.29%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $309,549 $282,687 9.50%
Interest-bearing cash $309,549 $282,687 9.50%
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 $0 $0 0.0%
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 $40,114,551 $34,240,922 17.15%
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 $0 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $40,650,309 $34,770,274 16.91%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • The Vanguard Group, Inc.

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
Healthscope Benefits, Inc. Claims processing, Contract Administrator, Recordkeeping and information management (computing, tabulating, data processing, etc.), Consulting (pension) NONE $22,170 $0 $22,170
Bogdahn Consulting, LLC Investment advisory (plan), Investment management NONE $17,500 $0 $17,500
Thieme & Adair, CPAS Accounting (including auditing) NONE $8,070 $0 $8,070
Total $47,740 $0 $47,740

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

No investments information available for this plan.

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.