Board of Trustees Iron Workers Local 401 Annuity FundMoney purchase plan
IRON WORKERS LOCAL 401 ANNUITY FUND · PHILADELPHIA, PA · plan year 2024
Reported admin expense ratio · 2024
0.70%
Peer grade: B· admin costs + employer contributions vs same-size plans · how grading works
Board of Trustees Iron Workers Local 401 Annuity Fund reported $938,302 in plan administrative expenses for 2024: 0.70% of average plan assets, higher than ~90% of peers. Employer contributions averaged $13,723 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio rose from 0.63% to 0.70%. The plan sits in the $50M–$250M size bracket, benchmarked here against 10,352 comparable plans and shown alongside other construction employers. By assets it is the 376th-largest of 3,651 plans among Pennsylvania employers on file, and the 471st of 5,337 in construction. active participation has shrunk from 995 to 820 since 2022.
Plan summary
Net assets, end of year$139,643,981
Participants with balances1,866
Active participants820
Employer contributions$11,252,658
Employee contributions—
Employer contribution per active participant$13,723
Average account balance$74,836
Benefits paid to participants$14,470,732
Plan auditUnmodified (clean) audit opinion
AuditorFISCHER DORWART, P.C.
Plan history3
Yearassets · accounts · employer contribution
2024$139.6M · 1,866 accts · $11.3M emplr
2023$129.4M · 2,167 accts · $7.8M emplr
2022$120.9M · $6.0M emplr
Administrative expenses, itemized · 2024
Recordkeeping & contract admin$214,621
Investment management$593,651
Audit (IQPA)$20,005
Trustee / custodial$35,069
Total administrative$938,302
Employer contributions to the Board of Trustees Iron Workers Local 401 Annuity Fund plan · 2024
Employer contribution per active participant$13,723
Median for plans this size$3,635
2024$13,723 per active participant
2023$9,174 per active participant
2022$5,992 per active participant
Board of Trustees Iron Workers Local 401 Annuity Fund's 2024 employer contribution ran above the $3,635 median for plans its size, placing it in the top quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
What these fees cost you
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Source: U.S. Department of Labor, Form 5500 series, EIN 232191989 ·
Verify on EFAST2 ·
Amounts are as reported by the plan sponsor for the plan year shown.