Plan Snapshot
- Plan Sponsor: Ibew Local 456 Health & Welfare Fund
- Sponsor EIN: 222317253
- Sponsor Address: C/O I.E. SHAFFER CO, WEST TRENTON, NJ, 086280230
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 1,315
- Total Assets: $80.2M
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 | 1,315 | $80.2M | $22.9M | $0 |
| 2023 | 748 | $74.9M | $21.3M | $0 |
| 2022 | 755 | $66.8M | $18.1M | $235,893 |
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 | $519,209 | — | $519,209 |
| AETNA LIFE INSURANCE CO. | Other Service Provider | $334,718 | — | $334,718 |
| CAPITAL RX, INC. | Other Service Provider | $217,334 | — | $217,334 |
| VANGUARD INSTITUTION INVESTOR SERV | Other Service Provider | $110,189 | — | $110,189 |
| UBS FINANCIAL SERVICES | Recordkeeper | $81,646 | — | $81,646 |
| MSPC CERTIFIED PUBLIC ACCOUNTANTS | Auditor | $45,160 | — | $45,160 |
| KROLL & HEINEMAN | Other Service Provider | $30,363 | — | $30,363 |
| PRINCETON HEALTHCARE SYSTEMS | Other Service Provider | $20,683 | — | $20,683 |
| LINDABURY MCCORMICK | Other Service Provider | $18,357 | — | $18,357 |
| NEW BRUNSWICK ELECTRICIANS CLUB | Other Service Provider | $16,469 | — | $16,469 |
| MILLIMAN INC. | Recordkeeper | $11,005 | — | $11,005 |
| SUMMIT ACTUARIAL SERVICES LLC | Other Service Provider | $8,550 | — | $8,550 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- UBS FINANCIAL SERVICES — Recordkeeper
- MSPC CERTIFIED PUBLIC ACCOUNTANTS — Auditor
- MILLIMAN INC. — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $1,413,683
- Estimated Expense Ratio: 1.762% 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 | $869,450 | $110,189 | $519,209 | $45,160 | — |
| 2023 | $837,682 | $100,294 | $505,268 | $44,424 | — |
| 2022 | $770,199 | $173,713 | $429,643 | — | $120,363 |