# Ibew Local Union 306 401(k) Plan
Source: https://planprovider.pro/companies/ibew-local-union-306-340308380-501

> Ibew Local Union 306's 401(k) plan: 2,508 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 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|

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