Plan Snapshot
- Plan Sponsor: Neca-Ibew Local 480
- Sponsor EIN: 510204433
- Sponsor Address: P.O. BOX 721119, BYRAM, MS, 392721119
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 785
- Total Assets: $14.2M
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 | 785 | $14.2M | $9.2M | $131,949 |
| 2023 | 689 | $11.4M | $8.0M | $124,560 |
| 2022 | 659 | $10.5M | $7.5M | $125,806 |
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 |
|---|---|---|---|---|
| ANTHEM, INC. | Other Service Provider | $403,656 | — | $403,656 |
| AMERICAN BENEFIT CORPORATION | Other Service Provider | $136,837 | — | $136,837 |
| ROBERT J. HILL | Other Service Provider | $120,224 | — | $120,224 |
| MARY J. FOSHEE | Other Service Provider | $80,612 | — | $80,612 |
| MAXEY WANN, PLLC | Other Service Provider | $73,382 | — | $73,382 |
| BHA CONSULTING, LLC | Other Service Provider | $37,748 | — | $37,748 |
| TANN, BROWN & RUSS CO., PLLC | Other Service Provider | $28,700 | — | $28,700 |
| ANDERSON EXPRESS CARE CLINIC | Other Service Provider | $9,145 | — | $9,145 |
| UNION INSURANCE GROUP | Other Service Provider | $8,159 | — | $8,159 |
| INTL BROTH OF ELECTR WKRS LOCAL 480 | Other Service Provider | $8,135 | — | $8,135 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $906,598
- Estimated Expense Ratio: 6.393% 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 | $952,734 | — | $540,493 | $28,700 | — |
| 2023 | $908,647 | — | $531,155 | $26,000 | — |
| 2022 | $820,275 | — | $474,356 | — | $97,190 |