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Local No. 41 International Brotherhood of Electrical Workers

Form 5500 Data
OverviewPlan ComponentsInvestmentsProvidersArticles & Questions

Local No. 41 International Brotherhood of Electrical Workers

59
Form 5500 Data
OverviewPlan ComponentsInvestmentsProvidersArticles & Questions

Overview

Plan Rating

BrightScope Rating
59
Lowest Rating in Peer Group
Average Rating in Peer Group
Highest Rating in Peer Group
0102030405060708090100
Lowest in Peer Group (17)
Average in Peer Group (72)
Highest in Peer Group (89)

Plan Description

Local No. 41 International Brotherhood of Electrical Workers Annuity Fund is a defined contribution plan with a profit-sharing component. This plan has a BrightScope Rating of 59. This plan is in the top 15% of plans for Total Plan Cost. Local No. 41 International Brotherhood of Electrical Workers Annuity Fund currently has over 1,400 active participants and over $80.9M in plan assets.

Did you know?

For the average 401k participant, the 30 point difference between this plan's BrightScope Rating (59) and the top rated plan (89) could equate to:
17
Additional years of work
165,503
Lost 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. How is this calculated?

Plan Details

Plan Details Relevant details about the plan and the plan sponsor, including the address and industry of the plan sponsor and the size of the plan in assets and participants.

 
Plan data accurate as of 10/31/2018
Plan data has been audited by an Independent Qualified Public Accountant (IQPA). Address S 3546 California Road
  • Location
    Orchard Park , NY
    • 14127
  • Industry
    Electrical Contractors and Other Wiring Installation Contractors
  • Administrator
    Leeann Murphy
  • Sponsor
    Rose M. Haensly
  • Net Plan Assets
    $80,900,000
  • Total Participants
    1,500
  • Avg Account Balance
    $66,000

Plan Components

Component Ratings

Design

Total Plan Cost:
Lowest Fees
Company Generosity:
Above Average

Performance

Participation Rate:
Average
Salary Deferrals:
Poor
Account Balance:
Above Average

Design

Total Plan Cost:
Lowest Fees
Company Generosity:
Above Average

Performance

Participation Rate:
Average
Salary Deferrals:
Poor
Account Balance:
Average

Peer Group Plans

Company Rating
Morrow Meadows 76.7
The Walman Optical Company 75.4
Kern Machinery 64.4
AMSTED Industries 63.4
Rochelle Foods, LLC 58.4
E.T. Horn Company 16.9

Top Industry Articles

exclusives
Warn Your Clients: Don’t Abuse Coronavirus Hardship Withdrawals
Though retirement plans can allow individuals to self-certify that they qualify for a penalty-free coronavirus-related distribution, should the IRS discover otherwise during a future audit, a participant can be subject to substantial penalties.
June 11, 2020
Compliance
Retirement Industry Cheers New ‘Securing a Strong Retirement Act’

The bipartisan piece of legislation includes provisions that have long been popular among retirement industry stakeholders, including the elimination of barriers to allow greater use of lifetime income products.

October 27, 2020
Data & Research
Gen X Facing the Stark Reality of Retirement

More than any other generation, its members are receptive to in-plan guarantees.

October 23, 2020
Compliance
IRS Announces Contribution and Benefit Limits for 2021

The limit on contributions by employees who participate in 401(k)s, 403(b)s and most 457 plans remains unchanged at $19,500.

October 26, 2020
exclusives
A New World and New Opportunities for Alpha
Pandemic-driven volatility has once again highlighted the relative virtues of active and passive management.
June 9, 2020

Investments

Investment Menu Stats

# of Investment Options

27

(Plan Average: 20)

Largest Funds in this Plan Allocation of Assets 1 YR Rank in Category
Vanguard LifeStrategy Income 47%
8%
Vanguard Group Institutional Target Retirement 16%
12%
Vanguard 500 Index 4%
15%
Fund hidden
100%
Fund hidden
100%
Fund hidden
100%
Fund hidden
100%
View all funds in this plan
for Asset Managers

Providers

Plan Service Providers

SERVICE PROVIDER
Recordkeeper
Local No. 41 Ibew Health Fund
Recordkeeper
Vanguard Group
Legal Counsel
Blitman & King LLP
Investment Adviser
Marco Consulting
Consultant
Jbm Consultants
Auditor
The Bonadio Group, LLC

Articles and Questions

Boeing Plan Report (Updated)

Boeing Fee Settlement Highlights the High Bar for Large Plans

Boeing Offers a Near Perfect Retirement Plan ModelIn most respects Boeing’s retirement offering is a great model of how to run a large retirement plan. Participants in Boeing’s 401(k) plan are beneficiaries of a participant-friendly design with immediate access, automatic enrollment, immediate ves

Why Do Investment Expenses Matter?
Ryan Alfred

Popular Questions

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