Board of Trustees of the Ibew Local No. 58 Annuity Fund401(k)
IBEW LOCAL NO. 58 ANNUITY FUND · MADISON HEIGHTS, MI · plan year 2024
Reported admin expense ratio · 2024
0.13%
Peer grade: C+· admin costs + employer contributions vs same-size plans · how grading works
Board of Trustees of the Ibew Local No. 58 Annuity Fund reported $1,098,744 in plan administrative expenses for 2024: 0.13% of average plan assets, higher than ~75% of peers. Employer contributions averaged $5,435 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 1 year on file its reported administrative ratio fell from 0.16% to 0.13%. The plan sits in the $250M–$1B size bracket, benchmarked here against 2,883 comparable plans and shown alongside other construction employers. By assets it is the 41st-largest of 2,619 plans among Michigan employers on file, and the 67th of 5,337 in construction. In 2024, the employer put in $1.54 for every $1.00 employees contributed themselves.
Plan summary
Net assets, end of year$918,705,913
Participants with balances6,150
Active participants5,364
Employer contributions$29,155,438
Employee contributions$18,941,828
Employer contribution per active participant$5,435
Average account balance$149,383
Benefits paid to participants$51,919,101
Plan auditUnmodified (clean) audit opinion
AuditorMCCLAIN SMITH & WENZ PC
Plan history2
Yearassets · accounts · employer contribution
2024$918.7M · 6,150 accts · $29.2M emplr
2023$820.3M · 6,079 accts · $27.9M emplr
Administrative expenses, itemized · 2024
Recordkeeping & contract admin$264,450
Investment management$215,000
Audit (IQPA)$32,288
Total administrative$1,098,744
The Board of Trustees of the Ibew Local No. 58 Annuity Fund 401(k) match · 2024
Employer contribution per active participant$5,435
Median for plans this size$4,294
2024$5,435 per active participant
2023$5,185 per active participant
Board of Trustees of the Ibew Local No. 58 Annuity Fund's 2024 employer contribution ran above the $4,294 median for plans its size. 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 382749515 ·
Verify on EFAST2 ·
Amounts are as reported by the plan sponsor for the plan year shown.