Plan Snapshot
- Plan Sponsor: Ibew Local Union 241
- Sponsor EIN: 150347948
- Sponsor Address: 134 CECIL A MALONE DRIVE, ITHACA, NY, 14850
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 170
- Total Assets: $12.7M
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 | 170 | $12.7M | $4.0M | $157,239 |
| 2023 | 148 | $11.8M | $3.6M | $140,702 |
| 2022 | 122 | $10.2M | $2.9M | $89,273 |
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 |
|---|---|---|---|---|
| EXCELLUS BLUE CROSS BLUE SHIELD | Other Service Provider | $121,531 | — | $121,531 |
| SOLXSYS ADMINISTRATIVE SOLUTIONS | Recordkeeper | $83,456 | — | $83,456 |
| MENGEL METZGER BARR & CO | Auditor | $34,950 | — | $34,950 |
| BLITMAN & KING | ERISA Attorney | $34,809 | — | $34,809 |
| BOLTON PARTNERS NORTHEAST | Actuary | $23,950 | — | $23,950 |
| LIFETIME BENEFIT SOLUTIONS | Other Service Provider | $15,269 | — | $15,269 |
| SEGAL ADVISORS | Other Service Provider | $14,681 | — | $14,681 |
| MCCARTHY & ASSOCIATES | Auditor | $14,198 | — | $14,198 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- MENGEL METZGER BARR & CO — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $342,844
- Estimated Expense Ratio: 2.703% 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 | $409,407 | $16,689 | $144,144 | $34,950 | — |
| 2023 | $370,480 | $14,341 | $107,781 | $21,500 | — |
| 2022 | $332,615 | $12,813 | $104,699 | — | $127,518 |