Plan Snapshot
- Plan Sponsor: Ibew Local Union 306 401 (K) Wage Reduction Retirement Fund Trustees
- Sponsor EIN: 311516748
- Sponsor Address: 3660 STUTZ DRIVE, SUITE 101, CANFIELD, OH, 44406
- Plan Type: DC
- Total Participants: 357
- Total Assets: $34.8M
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 | 357 | $34.8M | $0 | $1.5M |
| 2023 | 349 | $30.1M | $0 | $1.4M |
| 2022 | 1,121 | $26.6M | $0 | $1.4M |
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 |
|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE COMPANY | RECORDKEEPER | $32,451 | — | $32,451 |
| YURCHYK & DAVIS CPA'S, INC | AUDITOR | $8,400 | — | $8,400 |
| BENESYS | THIRD PARTY ADMINISTRATOR | $7,954 | — | $7,954 |
| FAULKNER, HOFFMAN, & PHILLIPS, LLC | ATTORNEY | $6,341 | — | $6,341 |
| ANDCO CONSULTING | INVESTMENT CONSULTANT | $5,000 | — | $5,000 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $60,146
- Estimated Expense Ratio: 0.173% 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 | $123,866 | $5,000 | $7,741 | $8,400 | — |
| 2023 | $68,120 | $5,000 | $7,404 | $7,900 | — |
| 2022 | $73,148 | $3,750 | $7,121 | — | $33,616 |