IBEW LOCAL UNION 269 ANNUITY FUND · WEST TRENTON, NJ · plan year 2024
Reported admin expense ratio · 2024
0.13%
Peer grade: B· admin costs + employer contributions vs same-size plans · how grading works
Ibew Local Union 269 Annuity Fund reported $380,554 in plan administrative expenses for 2024: 0.13% of average plan assets, higher than ~75% of peers. Employer contributions averaged $15,251 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 0.11% 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 177th-largest of 2,419 plans among New Jersey employers on file, and the 233rd of 5,337 in construction. active participation has grown from 868 to 989 since 2022.
Plan summary
Net assets, end of year$297,310,383
Participants with balances1,911
Active participants989
Employer contributions$15,083,628
Employee contributions—
Employer contribution per active participant$15,251
Average account balance$155,578
Benefits paid to participants$15,851,217
Plan auditUnmodified (clean) audit opinion
AuditorMSPC CERTIFIED PUBLIC ACCOUNTANTS &
Plan history3
Yearassets · accounts · employer contribution
2024$297.3M · 1,911 accts · $15.1M emplr
2023$267.9M · 1,901 accts · $13.1M emplr
2022$242.9M · 1,890 accts · $12.1M emplr
Administrative expenses, itemized · 2024
Recordkeeping & contract admin$257,466
Investment management$30,000
Audit (IQPA)$41,099
Total administrative$380,554
Employer contributions to the Ibew Local Union 269 Annuity Fund plan · 2024
Employer contribution per active participant$15,251
Median for plans this size$4,294
2024$15,251 per active participant
2023$13,982 per active participant
2022$13,916 per active participant
Ibew Local Union 269 Annuity Fund's 2024 employer contribution ran above the $4,294 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.
Service providers · 202412
METROPOLITIAN LIFE INSURANCE CO · Insurance services$241,743
Source: U.S. Department of Labor, Form 5500 series, EIN 222393763 ·
Verify on EFAST2 ·
Amounts are as reported by the plan sponsor for the plan year shown.