Plan Snapshot
- Plan Sponsor: Ibew Joint Pension Fund Local 456
- Sponsor EIN: 226238995
- Sponsor Address: C/O I.E. SHAFFER CO., P.O. BOX 1028, WEST TRENTON, NJ, 086280230
- Plan Type: DB
- Total Participants: 712
- Total Assets: $301.8M
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: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 712 | $301.8M | $17.3M | $0 |
| 2023 | 794 | $276.1M | $17.2M | $0 |
| 2022 | 766 | $244.3M | $15.3M | $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 |
|---|---|---|---|---|
| I.E. SHAFFER & CO. | Other Service Provider | $382,006 | — | $382,006 |
| UBS FINANCIAL SERVICES | Recordkeeper | $299,230 | — | $299,230 |
| NEUBERGER BERMAN, LLC | Other Service Provider | $206,960 | — | $206,960 |
| KAYNE ANDERSON RUDNICK INVESTMENT | Other Service Provider | $199,233 | — | $199,233 |
| BLACKSTONE ALTERNATIVE ASSET MANAGE | Other Service Provider | $159,366 | — | $159,366 |
| DIAMOND HILL CAPITAL MANAGEMENT INC | Other Service Provider | $133,255 | — | $133,255 |
| RICHMOND CAPITAL MANAGEMENT | Other Service Provider | $113,645 | — | $113,645 |
| JP MORGAN | Recordkeeper | $102,707 | — | $102,707 |
| MSPC CERTIFIED PUBLIC ACCOUNTANTS | Auditor | $54,732 | — | $54,732 |
| BRADFORD & MARZEC | Other Service Provider | $52,507 | — | $52,507 |
| MANNING AND NAPIER ADVISORS, LLC | Recordkeeper | $44,439 | — | $44,439 |
| KROLL & HEINEMAN | Other Service Provider | $34,001 | — | $34,001 |
| SUMMIT ACTUARIAL SERVICES | Other Service Provider | $26,125 | — | $26,125 |
| LINDABURY, MCCORMICK, ESTABROOK | Other Service Provider | $20,357 | — | $20,357 |
| NEW BRUNSWICK ELECTRICIANS CLUB | Other Service Provider | $16,469 | — | $16,469 |
| INVESCO INVESTMENT MANAGEMENT CO | Other Service Provider | $8,996 | — | $8,996 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- UBS FINANCIAL SERVICES — Recordkeeper
- JP MORGAN — Recordkeeper
- MSPC CERTIFIED PUBLIC ACCOUNTANTS — Auditor
- MANNING AND NAPIER ADVISORS, LLC — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $1,854,028
- Estimated Expense Ratio: 0.614% 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 | $1,941,298 | $1,021,108 | $382,006 | $54,732 | — |
| 2023 | $1,895,738 | $1,020,055 | $372,056 | $54,075 | — |
| 2022 | $1,814,989 | $1,332,736 | $242,406 | — | $137,390 |