Plan Snapshot
- Plan Sponsor: Electricians Annuity Fund Ibew Local 456
- Sponsor EIN: 222180156
- Sponsor Address: C/O I.E. SHAFFER CO., P.O. BOX 1028, WEST TRENTON, NJ, 086280230
- Plan Type: DC
- Total Participants: 1,433
- Total Assets: $355.8M
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: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 1,433 | $355.8M | $15.0M | $0 |
| 2023 | 1,346 | $328.4M | $14.9M | $0 |
| 2022 | 1,349 | $296.2M | $14.0M | $707,747 |
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 |
|---|---|---|---|---|
| IBEW LOCAL 456 ANNUITY FUND | NONE | $518,853 | — | $518,853 |
| I.E. SHAFFER & CO. | NONE | $248,762 | — | $248,762 |
| EMPOWER ANNUITY INSURANCE COMPANY | NONE | $76,449 | — | $76,449 |
| MSPC CERTIFIED PUBLIC ACCOUNTANTS | NONE | $39,965 | — | $39,965 |
| UBS FINANCIAL SERVICES | NONE | $25,000 | — | $25,000 |
| KROLL HEINEMAN | NONE | $17,094 | — | $17,094 |
| NEW BRUNSWICK ELECTRICIANS CLUB | NONE | $16,469 | — | $16,469 |
| LINDABURY, MCCORMICK, ESTABROOK | NONE | $11,367 | — | $11,367 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- MSPC CERTIFIED PUBLIC ACCOUNTANTS — NONE
- UBS FINANCIAL SERVICES — NONE
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $953,959
- Estimated Expense Ratio: 0.268% 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 | $472,846 | — | $248,762 | $39,965 | — |
| 2023 | $482,820 | — | $259,908 | $38,266 | — |
| 2022 | $403,107 | $25,000 | $169,960 | — | $77,378 |