# Ibew Local Union 241 Health & Welfare Plan
Source: https://planprovider.pro/companies/ibew-local-union-241-150347948-501

> Ibew Local Union 241's Health & Welfare plan: 170 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 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](https://planprovider.pro/provider/mengel-metzger-barr-and-co-llp) — 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|

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