Plan Snapshot
- Plan Sponsor: Ibew Local Union 306
- Sponsor EIN: 340308380
- Sponsor Address: 3660 STUTZ DRIVE, CANFIELD, OH, 44406
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 2,508
- Total Assets: $10.3M
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 | 2,508 | $10.3M | $2.0M | $651,172 |
| 2023 | 2,204 | $9.0M | $1.8M | $612,595 |
| 2022 | 2,089 | $8.1M | $1.8M | $555,575 |
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 |
|---|---|---|---|---|
| BENESYS INC. | Recordkeeper | $29,993 | — | $29,993 |
| FIFTH THIRD ASSET MANAGEMENT | Custodian / Trustee | $17,701 | — | $17,701 |
| PNC BANK | Other Service Provider | $17,493 | — | $17,493 |
| YURCHYK & DAVIS CPA'S, INC. | Auditor | $9,100 | — | $9,100 |
| FAULKNER, HOFFMAN & PHILLIPS | ERISA Attorney | $6,884 | — | $6,884 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $81,171
- Estimated Expense Ratio: 0.791% 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 | $117,383 | $17,701 | $29,993 | $9,100 | — |
| 2023 | $105,607 | — | $29,339 | $9,900 | — |
| 2022 | $108,078 | $19,617 | $31,899 | — | $18,888 |