Plan Ledger DOL Form 5500 · updated monthly

Ibew Local Union 306 401 (K) Wage Reduction Retirement Fund Trustees401(k)

IBEW LOCAL UNION 306 401 (K) WAGE REDUCTION RETIREMENT FUND · CANFIELD, OH · plan year 2024

Reported admin expense ratio · 2024
0.38%

Ibew Local Union 306 401 (K) Wage Reduction Retirement Fund Trustees reported $123,866 in plan administrative expenses for 2024: 0.38% of average plan assets, above the peer median. 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 0.25% to 0.38%. The plan sits in the $10M–$50M size bracket, benchmarked here against 27,838 comparable plans and shown alongside other construction employers. By assets it is the 873rd-largest of 3,295 plans among Ohio employers on file, and the 1,383rd of 5,337 in construction. active participation has shrunk from 1,121 to 357 since 2022.

Plan summary
Net assets, end of year$34,817,238
Participants with balances437
Active participants357
Employer contributions—
Employee contributions$1,462,679
Employer contribution per active participant—
Average account balance$79,673
Benefits paid to participants$1,407,546
Plan auditUnmodified (clean) audit opinion
AuditorYURCHYK & DAVIS CPA'S, INC.
Plan history3
Yearassets · accounts · employer contribution
2024$34.8M · 437 accts
2023$30.1M · 419 accts
2022$26.6M · 420 accts
Administrative expenses, itemized · 2024
Recordkeeping & contract admin$40,192
Investment management$5,000
Audit (IQPA)$8,400
Trustee / custodial$89
Total administrative$123,866
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 · 20245
YURCHYK & DAVIS CPA'S, INC · Accounting / audit$8,400
BENESYS · Contract administrator$7,954
FAULKNER, HOFFMAN, & PHILLIPS, LLC · Legal$6,341
ANDCO CONSULTING · Consulting · Investment advisory (plan)$5,000

Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.

Administrative cost history3
2024$123,866 · 0.38%
2023$68,120 · 0.24%
2022$73,148 · 0.25%
Similar plansConstruction · Ohio
Jhi Group Inc. OH$37.3M · 0.37%
Perfection Group, Inc. OH$35.1M · 0.03%
Mvo Holdings, LLC OH$32.9M · 0.23%
Gerken Materials, Inc. OH$31.4M · 0.08%

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Source: U.S. Department of Labor, Form 5500 series, EIN 311516748 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.