BOARD OF TRUSTEES OF IBEW LOCAL 716 PENSION PLAN has sponsored the creation of one or more 401k plans.
| Measure | Date | Value |
|---|
| 2022: IBEW LOCAL 716 PENSION PLAN 2022 401k membership |
|---|
| Current value of assets | 2022-12-31 | 208,054,300 |
| Acturial value of assets for funding standard account | 2022-12-31 | 184,263,741 |
| Accrued liability for plan using immediate gains methods | 2022-12-31 | 159,674,398 |
| Accrued liability under unit credit cost method | 2022-12-31 | 147,337,510 |
| RPA 94 current liability | 2022-12-31 | 289,028,476 |
| Expected increase in current liability due to benefits accruing during the plan year | 2022-12-31 | 9,741,412 |
| Expected release from RPA 94 current liability for plan year | 2022-12-31 | 7,427,246 |
| Expected plan disbursements for the plan year | 2022-12-31 | 8,002,246 |
| Current value of assets | 2022-12-31 | 208,054,300 |
| Number of retired participants and beneficiaries receiving payment | 2022-12-31 | 1,644 |
| Current liability for retired participants and beneficiaries receiving payment | 2022-12-31 | 88,049,498 |
| Number of terminated vested participants | 2022-12-31 | 1,697 |
| Current liability for terminated vested participants | 2022-12-31 | 72,342,109 |
| Current liability for active participants non vested benefits | 2022-12-31 | 5,897,238 |
| Current liability for active participants vested benefits | 2022-12-31 | 122,739,631 |
| Total number of active articipats | 2022-12-31 | 1,763 |
| Current liability for active participants | 2022-12-31 | 128,636,869 |
| Total participant count with liabilities | 2022-12-31 | 5,104 |
| Total current liabilitoes for participants with libailities | 2022-12-31 | 289,028,476 |
| Total employer contributions in plan year | 2022-12-31 | 5,737,490 |
| Total employee contributions in plan year | 2022-12-31 | 0 |
| Employer’s normal cost for plan year as of valuation date | 2022-12-31 | 2,435,155 |
| Prior year credit balance | 2022-12-31 | 121,620,637 |
| Total participants, beginning-of-year | 2022-01-01 | 5,578 |
| Total number of active participants reported on line 7a of the Form 5500 | 2022-01-01 | 1,947 |
| Number of retired or separated participants receiving benefits | 2022-01-01 | 1,236 |
| Number of other retired or separated participants entitled to future benefits | 2022-01-01 | 1,635 |
| Total of all active and inactive participants | 2022-01-01 | 4,818 |
| Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits | 2022-01-01 | 474 |
| Total participants | 2022-01-01 | 5,292 |
| Number of employers contributing to the scheme | 2022-01-01 | 50 |
| Measure | Date | Value |
|---|
| 2022 : IBEW LOCAL 716 PENSION PLAN 2022 401k financial data |
|---|
| Total unrealized appreciation/depreciation of assets | 2022-12-31 | $0 |
| Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2022-12-31 | $136,475 |
| Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities) | 2022-12-31 | $229,175 |
| Total income from all sources (including contributions) | 2022-12-31 | $-22,656,938 |
| Total loss/gain on sale of assets | 2022-12-31 | $0 |
| Total of all expenses incurred | 2022-12-31 | $8,809,921 |
| Benefit payments and payments to participlants,beneficiaries,insurance carriers and others | 2022-12-31 | $7,350,936 |
| Total contributions o plan (from employers,participants, others, non cash contrinutions) | 2022-12-31 | $5,737,490 |
| Value of total assets at end of year | 2022-12-31 | $176,723,916 |
| Value of total assets at beginning of year | 2022-12-31 | $208,283,475 |
| Total of administrative expenses incurred including professional, contract, advisory and management fees | 2022-12-31 | $1,458,985 |
| Total interest from all sources | 2022-12-31 | $496,724 |
| Total dividends received (eg from common stock, registered investment company shares) | 2022-12-31 | $1,824,728 |
| Has a resolution to terminate the plan been adopted during the plan year or any prior plan year | 2022-12-31 | No |
| Total dividends received from registered investment company shares (eg mutual funds) | 2022-12-31 | $1,824,728 |
| Assets. Real estate other than employer real property at end of year | 2022-12-31 | $36,211,669 |
| Assets. Real estate other than employer real property at beginning of year | 2022-12-31 | $21,419,376 |
| Administrative expenses professional fees incurred | 2022-12-31 | $97,217 |
| Was this plan covered by a fidelity bond | 2022-12-31 | Yes |
| Value of fidelity bond cover | 2022-12-31 | $500,000 |
| Were there any nonexempt tranactions with any party-in-interest | 2022-12-31 | No |
| Income. Received or receivable in cash from other sources (including rollovers) | 2022-12-31 | $2,359,445 |
| Value of other receiveables (less allowance for doubtful accounts) at end of year | 2022-12-31 | $107,912 |
| Value of other receiveables (less allowance for doubtful accounts) at beginning of year | 2022-12-31 | $194,430 |
| Other income not declared elsewhere | 2022-12-31 | $5,000 |
| Administrative expenses (other) incurred | 2022-12-31 | $433,606 |
| Liabilities. Value of operating payables at end of year | 2022-12-31 | $136,475 |
| Liabilities. Value of operating payables at beginning of year | 2022-12-31 | $229,175 |
| Total non interest bearing cash at end of year | 2022-12-31 | $838,364 |
| Total non interest bearing cash at beginning of year | 2022-12-31 | $254,617 |
| Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser | 2022-12-31 | No |
| Value of net income/loss | 2022-12-31 | $-31,466,859 |
| Value of net assets at end of year (total assets less liabilities) | 2022-12-31 | $176,587,441 |
| Value of net assets at beginning of year (total assets less liabilities) | 2022-12-31 | $208,054,300 |
| Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond) | 2022-12-31 | No |
| Were any loans by the plan or fixed income obligations due to the plan in default | 2022-12-31 | No |
| Were any leases to which the plan was party in default or uncollectible | 2022-12-31 | No |
| Investment advisory and management fees | 2022-12-31 | $717,412 |
| Value of interest in registered invesment companies (eg mutual funds) at end of year | 2022-12-31 | $139,200,639 |
| Value of interest in registered invesment companies (eg mutual funds) at beginning of year | 2022-12-31 | $185,732,171 |
| Interest earned on other investments | 2022-12-31 | $496,724 |
| Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year | 2022-12-31 | $61,158 |
| Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year | 2022-12-31 | $394,019 |
| Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year | 2022-12-31 | $394,019 |
| Net investment gain/loss from registered investment companies (e.g. mutual funds) | 2022-12-31 | $-30,720,880 |
| Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets | 2022-12-31 | No |
| Was there a failure to transmit to the plan any participant contributions | 2022-12-31 | No |
| Has the plan failed to provide any benefit when due under the plan | 2022-12-31 | No |
| Contributions received in cash from employer | 2022-12-31 | $3,378,045 |
| Employer contributions (assets) at end of year | 2022-12-31 | $301,193 |
| Employer contributions (assets) at beginning of year | 2022-12-31 | $282,108 |
| Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers | 2022-12-31 | $7,350,936 |
| Contract administrator fees | 2022-12-31 | $210,750 |
| Assets. Value of buildings and other operty used in plan operation at end of year | 2022-12-31 | $2,981 |
| Assets. Value of buildings and other operty used in plan operation at beginning of year | 2022-12-31 | $6,754 |
| Did the plan have assets held for investment | 2022-12-31 | Yes |
| Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser | 2022-12-31 | No |
| Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC | 2022-12-31 | No |
| Opinion of an independent qualified public accountant for this plan | 2022-12-31 | Unqualified |
| Accountancy firm name | 2022-12-31 | EDWARDS AND LEATHERS, P.C. |
| Accountancy firm EIN | 2022-12-31 | 208739519 |
