# Ibew Local 505 Neca Pension Plan DB Plan
Source: https://planprovider.pro/companies/ibew-local-505-neca-pension-plan-plan

> Ibew Local 505 Neca Pension Plan's DB plan: 385 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Ibew Local 505 Neca Pension Plan

- **Sponsor EIN:** 510176914

- **Sponsor Address:** 1717 OLD SHELL RD, MOBILE, AL, 366041323

- **Plan Type:** DB

- **Total Participants:** 385

- **Total Assets:** $64.1M

## 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|385|$64.1M|$0|$0|

| 2023|389|$57.6M|$0|$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|

| CARR, RIGGS & INGRAM, LLC|Auditor|$17,250|—|$17,250|

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $17,250

- **Estimated Expense Ratio:** 0.027% 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|$505,145|$322,429|$76,200|$17,250|—|

| 2023|$442,525|$268,983|$74,200|—|$38,514|

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