# Ibew Local Union 306 401 (K) Wage Reduction Retirement Fund Trustees DC Plan
Source: https://planprovider.pro/companies/ibew-local-union-306-401-k-wage-reduction-retirement-fund-trustees-plan

> Ibew Local Union 306 401 (K) Wage Reduction Retirement Fund Trustees's DC plan: 357 participants, plan year 2024 financials, providers, and benchmarks from F…

Form 5500 filing data for plan year 2024.

## 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|

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