Plan Snapshot
- Plan Sponsor: Ibew Local Union 481 Defined Contribution
- Sponsor EIN: 351501496
- Sponsor Address: 1828 N. MERIDIAN STREET, INDIANAPOLIS, IN, 46202
- Plan Type: 401(k)
- Plan Number: 003
- Total Participants: 3,110
- Total Assets: $295.7M
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: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 3,110 | $295.7M | $16.5M | $245,550 |
| 2023 | 2,994 | $268.4M | $13.6M | $0 |
| 2022 | 2,820 | $246.3M | $11.4M | $0 |
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 |
|---|---|---|---|---|
| JOHN HANCOCK RETIREMENT PLAN SERVIC | Recordkeeper | $214,503 | — | $214,503 |
| MORGAN STANLEY SMITH BARNEY LLC | Other Service Provider | $75,000 | — | $75,000 |
| DAVID RAY | Recordkeeper | $72,055 | — | $72,055 |
| LEDBETTER PARTNERS, LLC | Other Service Provider | $39,560 | — | $39,560 |
| LEGACY PROFESSIONALS LLP | Auditor | $36,862 | — | $36,862 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- JOHN HANCOCK RETIREMENT PLAN SERVIC — Recordkeeper
- LEGACY PROFESSIONALS LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $437,980
- Estimated Expense Ratio: 0.148% 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 | $646,559 | $75,000 | — | $32,000 | — |
| 2023 | $550,423 | $75,000 | — | $31,000 | — |
| 2022 | $550,770 | $264,266 | — | — | $54,604 |