Joint Board of Trustees, ElectricalMoney purchase plan
ELECTRICAL WORKERS DEFERRED INCOME PLAN LOCAL 103, I.B.E.W. · BOSTON, MA · plan year 2024
Reported admin expense ratio · 2024
0.05%
Peer grade: B· admin costs + employer contributions vs same-size plans · how grading works
Joint Board of Trustees, Electrical reported $888,277 in plan administrative expenses for 2024: 0.05% of average plan assets, above the peer median. Employer contributions averaged $8,602 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 0.06% to 0.05%. The plan sits in the over $1B size bracket, benchmarked here against 1,229 comparable plans and shown alongside other utilities employers. By assets it is the 29th-largest of 2,726 plans among Massachusetts employers on file, and the 30th of 412 in utilities.
Plan summary
Net assets, end of year$1,774,216,971
Participants with balances10,105
Active participants8,300
Employer contributions$71,394,874
Employee contributions—
Employer contribution per active participant$8,602
Average account balance$175,578
Benefits paid to participants$80,431,764
Plan auditUnmodified (clean) audit opinion
AuditorMANZI & ASSOCIATES L.L.C.
Plan history3
Yearassets · accounts · employer contribution
2024$1.8B · 10,105 accts · $71.4M emplr
2023$1.6B · 10,127 accts · $68.0M emplr
2022$1.4B · 10,001 accts · $70.7M emplr
Administrative expenses, itemized · 2024
Investment management$295,007
Audit (IQPA)$38,752
Total administrative$888,277
Employer contributions to the Joint Board of Trustees, Electrical plan · 2024
Employer contribution per active participant$8,602
Median for plans this size$5,259
2024$8,602 per active participant
2023$8,070 per active participant
2022$8,483 per active participant
Joint Board of Trustees, Electrical's 2024 employer contribution ran above the $5,259 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.
Service providers · 202412
LOCAL 103, IBEW HEALTH BENEFIT PLAN · Contract administrator$522,000
ASB CAPITAL MGMT · Investment management$344,798
NATIONAL REAL ESTATE ADVISORS LLC · Investment management$253,007
STATE STREET GLOBAL ADVISORS · Investment management · Custodial (securities)$59,033
SEGAL MARCO ADVISORS · Investment advisory (plan)$42,000
Source: U.S. Department of Labor, Form 5500 series, EIN 042471895 ·
Verify on EFAST2 ·
Amounts are as reported by the plan sponsor for the plan year shown.