Local 68 Engineers Union Annuity Fund Board of TrusteesMoney purchase plan
LOCAL 68 ENGINEERS UNION ANNUITY PLAN · WEST CALDWELL, NJ · plan year 2024
Reported admin expense ratio · 2024
0.24%
Peer grade: C+· admin costs + employer contributions vs same-size plans · how grading works
Local 68 Engineers Union Annuity Fund Board of Trustees reported $2,259,836 in plan administrative expenses for 2024: 0.24% of average plan assets, higher than ~90% of peers. Employer contributions averaged $6,884 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 0.19% to 0.24%. The plan sits in the $250M–$1B size bracket, benchmarked here against 2,883 comparable plans and shown alongside other administrative & support services employers. By assets it is the 70th-largest of 2,419 plans among New Jersey employers on file, and the 21st of 2,534 in administrative & support services.
Plan summary
Net assets, end of year$971,123,422
Participants with balances7,033
Active participants5,542
Employer contributions$38,152,590
Employee contributions—
Employer contribution per active participant$6,884
Average account balance$138,081
Benefits paid to participants$58,371,015
Plan auditUnmodified (clean) audit opinion
AuditorMSPC
Plan history3
Yearassets · accounts · employer contribution
2024$971.1M · 7,033 accts · $38.2M emplr
2023$913.1M · 6,836 accts · $38.0M emplr
2022$871.1M · 6,602 accts · $36.4M emplr
Administrative expenses, itemized · 2024
Recordkeeping & contract admin$297,414
Investment management$1,734,591
Audit (IQPA)$20,000
Trustee / custodial$93,626
Total administrative$2,259,836
Employer contributions to the Local 68 Engineers Union Annuity Fund Board of Trustees plan · 2024
Employer contribution per active participant$6,884
Median for plans this size$4,294
2024$6,884 per active participant
2023$7,058 per active participant
2022$7,012 per active participant
Local 68 Engineers Union Annuity Fund Board of Trustees'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 226289939 ·
Verify on EFAST2 ·
Amounts are as reported by the plan sponsor for the plan year shown.