International Brotherhood of Elec Workers Union Local 7401(k)
THE INTERNATIONAL BROTHERHOOD OF ELECTRICAL WORKERS LOCAL 7 ANNUITY PLAN · MERIDEN, CT · plan year 2024
Peer grade: C+ · admin costs + employer contributions vs same-size plans · how grading works
International Brotherhood of Elec Workers Union Local 7 reported $280,219 in plan administrative expenses for 2024: 0.37% of average plan assets, higher than ~90% of peers. Employer contributions averaged $5,540 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 fell from 0.45% to 0.37%. 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 229th-largest of 1,106 plans among Connecticut employers on file, and the 756th of 5,337 in construction.
International Brotherhood of Elec Workers Union Local 7's 2024 employer contribution ran above the $3,635 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.
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
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Source: U.S. Department of Labor, Form 5500 series, EIN 042733497 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.