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Company:
Danville Division, Chapter NECA/IBEW Local 538
Plan:
IBEW Local 538 401k Salary Deferral & Retirement Plan
 

Danville Division, Chapter NECA/IBEW Local 538

42 Plan:

 
 
42
25
59
85
0
10
20
30
40
50
60
70
80
90
100
For the average 401k participant, the 43 point difference between this plan's BrightScope Rating (42) and the top rated plan (85) could equate to:
[How is this calculated?]
20 additional years of work
Up to $271,700 in lost retirement savings.
The delay in retirement calculations apply solely to this defined contribution plan and do not take into account other retirement plans and programs offered by this employer.

 

Retirement Plan Description

IBEW Local 538 401k Salary Deferral & Retirement Plan is a defined contribution plan with a profit-sharing component and 401k feature. This plan has a BrightScope Rating of 42. This plan is in the top 35% of plans for Participation Rate. IBEW Local 538 401k Salary Deferral & Retirement Plan currently has over 400 active participants and over $8.6M in plan assets.


 Investment Menu Statistics

No. of Investment Options
64
Plan Average: 20
Largest Funds in this 401k: based on % allocation of assets
1. Lincoln Financial Short Term (SA14) 24%
2. Lincoln Financial Guaranteed Investment Contract 12%
3. Fidelity Contrafund 6%

 Retirement Plan Details

Address 1290 N Michigan Ave
Danville, IL 61834-6244 
Industry Electrical Contractors and Other Wiring Installation Contractors
Administrator Jim D. Bailey
Net Plan Assets $8,600,000
Total Participants 430
Avg Account Balance $21,000

  Plan Service Providers

Insurance Carrier Lincoln Financial
Insurance Advisor/Broker Woodbury Financial Services, Inc.
Administration Lincoln Financial
Insurance Advisor/Broker Wisconsin Union Labor Agency, Inc.
Auditor CliftonLarsonAllen LLP