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IBEW LOCAL UNION 387 401(K) PLAN 401k Plan overview

Plan NameIBEW LOCAL UNION 387 401(K) PLAN
Plan identification number 002

IBEW LOCAL UNION 387 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Participant-directed brokerage accounts provided as an investment option under the plan.
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

401k Sponsoring company profile

IBEW LOCAL UNION 387 has sponsored the creation of one or more 401k plans.

Company Name:IBEW LOCAL UNION 387
Employer identification number (EIN):860079391
NAIC Classification:541990
NAIC Description:All Other Professional, Scientific, and Technical Services

Form 5500 Filing Information

Submission information for form 5500 for 401k plan IBEW LOCAL UNION 387 401(K) PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01
0022022-01-01
0022021-01-01
0022021-01-01
0022020-01-01
0022019-01-01
0022018-01-01
0022017-01-01
0022016-01-01
0022015-01-01
0022013-01-01GERALD D. VANDEVER2014-09-10 GERALD D. VANDEVER2014-09-10
0022012-01-01GERALD D. VANDEVER2013-07-10 GERALD D. VANDEVER2013-07-10
0022011-01-01GERALD D. VANDEVER2012-07-17
0022010-01-01GERALD D. VANDEVER2011-08-19

Plan Statistics for IBEW LOCAL UNION 387 401(K) PLAN

401k plan membership statisitcs for IBEW LOCAL UNION 387 401(K) PLAN

Measure Date Value
2024: IBEW LOCAL UNION 387 401(K) PLAN 2024 401k membership
Total number of particpants at beginning of year2024-10-084
Total number of particpants at end of year2024-10-084
Number of Participants With Account Balances2024-10-083

Financial Data on IBEW LOCAL UNION 387 401(K) PLAN

Measure Date Value
2024 : IBEW LOCAL UNION 387 401(K) PLAN 2024 401k financial data
Total expenses incurred by plan in this plan year2024-10-0819857
Net assets as of the end of the plan year2024-10-0874539
Total assets as of the beginning of the plan year2024-10-0831497
Value of plan covered by a fidelity bond2024-10-08430000
Participant contributions to plan in this plan year2024-10-0832120
Other income to plan in this plan year2024-10-0816677
Plan net income in this plan year2024-10-0843042
Net assets as of the end of the plan year2024-10-0874539
Net assets as of the beginning of the plan year2024-10-0831497
Employer contributions to plan in this plan year2024-10-0814102
Expensese paid to adminstrative service provicers from plan in this plan year2024-10-08680

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