Plan Snapshot
- Plan Sponsor: Bd Of Trustees I.B.E.W. Local 1253 Retirement Plan
- Sponsor EIN: 016045419
- Sponsor Address: 142 ELM STREET, NEWPORT, ME, 049533130
- Plan Type: DC
- Total Participants: 565
- Total Assets: $54.9M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 565 | $54.9M | $2.4M | $0 |
| 2023 | 538 | $50.5M | $2.4M | $0 |
| 2022 | 477 | $42.6M | $2.0M | $0 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| LINCOLN RETIREMENT SERVICES CO. | Recordkeeper | $58,481 | — | $58,481 |
| SAGEVIEW | Investment Advisor | $40,000 | — | $40,000 |
| RETIREMENT SOLUTIONS GROUP | Other Service Provider | $15,900 | — | $15,900 |
| USI CONSULTING GROUP | Other Service Provider | $9,900 | — | $9,900 |
| NOVAK FRANCELLA LLC | Auditor | $6,683 | — | $6,683 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- LINCOLN RETIREMENT SERVICES CO. — Recordkeeper
- SAGEVIEW — Investment Advisor
- NOVAK FRANCELLA LLC — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $130,964
- Estimated Expense Ratio: 0.239% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $151,128 | $40,000 | $74,381 | $6,683 | — |
| 2023 | $140,895 | $40,000 | $65,968 | $22,903 | — |
| 2022 | $157,369 | $40,000 | $63,761 | — | $25,921 |