Plan Snapshot
- Plan Sponsor: Board Of Trustees Ibew Local 56 Pension Plan
- Sponsor EIN: 256149244
- Sponsor Address: PO BOX 10037, ERIE, PA, 16514
- Plan Type: DB
- Plan Number: 001
- Total Participants: 225
- Total Assets: $71.9M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 225 | $71.9M | $2.9M | $0 |
| 2023 | 228 | $69.0M | $2.7M | $0 |
| 2022 | 209 | $65.2M | $2.6M | $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 |
|---|---|---|---|---|
| MANNING AND NAPIER, INC. | Other Service Provider | $173,987 | — | $173,987 |
| NEWTOWER TRUST COMPANY | Other Service Provider | $53,064 | — | $53,064 |
| FEDERATED EQUITY | Other Service Provider | $44,514 | — | $44,514 |
| MARINER INSTITUTIONAL, LLC | Other Service Provider | $35,800 | — | $35,800 |
| USI CONSULTING GROUP | Other Service Provider | $30,990 | — | $30,990 |
| PNC BANK ASSOCIATION | Other Service Provider | $21,956 | — | $21,956 |
| DICLAUDIO & KRAMER, LLC | Auditor | $16,138 | — | $16,138 |
| MEYER, UNKOVIC & SCOTT | ERISA Attorney | $8,785 | — | $8,785 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- DICLAUDIO & KRAMER, LLC — Auditor
- MEYER, UNKOVIC & SCOTT — ERISA Attorney
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $385,234
- Estimated Expense Ratio: 0.536% 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 | $476,295 | $307,364 | — | $16,138 | — |
| 2023 | $440,248 | $284,208 | — | $16,035 | — |
| 2022 | $425,868 | $315,971 | — | — | $40,638 |