Plan Snapshot
- Plan Sponsor: Ibew Local 351 Surety Fund Trustees
- Sponsor EIN: 223431479
- Sponsor Address: PO BOX 1028, WEST TRENTON, NJ, 08628
- Plan Type: DC
- Total Participants: 2,075
- Total Assets: $676.6M
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 | 2,075 | $676.6M | $33.5M | $0 |
| 2023 | 1,839 | $601.9M | $33.3M | $0 |
| 2022 | 2,319 | $520.0M | $30.6M | $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 |
|---|---|---|---|---|
| IBEW LOCAL 351 SURETY PLAN | Other Service Provider | $766,862 | — | $766,862 |
| I.E. SHAFFER & CO | Other Service Provider | $341,311 | — | $341,311 |
| EMPOWER ANNUITY INSURANCE COMPANY | Other Service Provider | $48,000 | — | $48,000 |
| GERSON & ASSOC CPAS AND ADVISORS PC | Other Service Provider | $38,500 | — | $38,500 |
| MORGAN STANLEY SMITH BARNEY LLC | Recordkeeper | $30,000 | — | $30,000 |
| OBRIEN BELLAND & BUSHINSKY | Other Service Provider | $28,732 | — | $28,732 |
| MSPC CERTIFIED PUBLIC ACCOUNTANTS | Auditor | $18,476 | — | $18,476 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- MORGAN STANLEY SMITH BARNEY LLC — Recordkeeper
- MSPC CERTIFIED PUBLIC ACCOUNTANTS — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $1,271,881
- Estimated Expense Ratio: 0.188% 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 | $552,926 | $78,000 | $341,311 | $56,976 | — |
| 2023 | $554,353 | $24,000 | $386,669 | $49,806 | — |
| 2022 | $494,573 | $20,833 | $321,588 | — | $107,520 |