Plan Snapshot
- Plan Sponsor: Ibew Local No. 229 Annuity Fund
- Sponsor EIN: 251624277
- Sponsor Address: PO BOX 1769, SALEM, VA, 24153
- Plan Type: DC
- Plan Number: 003
- Total Participants: 228
- Total Assets: $55.8M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 228 | $55.8M | $2.8M | $0 |
| 2023 | 238 | $50.7M | $2.7M | $0 |
| 2022 | 227 | $42.6M | $2.4M | $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 |
|---|---|---|---|---|
| JOHN HANCOCK RETIREMENT | Recordkeeper | $87,173 | — | $87,173 |
| CAP TRUST FINANCIAL ADVISORS | Other Service Provider | $40,000 | — | $40,000 |
| ODONONOGHUE & ODONOGHUE LLP | Other Service Provider | $34,187 | — | $34,187 |
| LAWRENCE C. MUSGROVE ASSOCIATES | Other Service Provider | $30,660 | — | $30,660 |
| BARATZ & ASSOCIATES | Other Service Provider | $15,714 | — | $15,714 |
| FISCHER DORWART PC | Other Service Provider | $8,000 | — | $8,000 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- JOHN HANCOCK RETIREMENT — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $215,734
- Estimated Expense Ratio: 0.386% 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 | $235,550 | $40,000 | $30,660 | $8,000 | — |
| 2023 | $221,418 | $40,000 | $31,500 | $7,500 | — |
| 2022 | $195,757 | $129,882 | $30,000 | — | $19,497 |