Illinois › Construction › 1,000 to 4,999 participants
Form 5500 statement · plan year 1 Jun 2024 to 31 May 2025
IBEW Local 701 Retirement Savings Fund
Sponsored by Board of Trustees-Local 701 Retirement Savings Fund, Warrneville, IL
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
IBEW Local 701 Retirement Savings Fund is a 401(k) plan sponsored by Board of Trustees-Local 701 Retirement Savings Fund of Warrneville, Illinois. For the plan year ending 31 May 2025 it reported 2,023 participants, 1,734 of them active, and net assets of $417M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $206,328 per participant, well above the $50,295 median for defined contribution plans with 1,000 to 4,999 participants and well above the $54,962 median for defined contribution plans in construction. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The employer contributed $16.6M during the year, or $9,553 per active participant against a same-size median of $2,045; participants contributed $534K and $748K arrived as rollovers and other contributions. Benefits paid out totalled $20.8M.
Schedule C lists 5 service provider organisations paid $5,000 or more, with reported compensation of $165K: $81.47 per participant, close to the same-size median of $82.08. Administrative expenses charged to the plan were $253K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $150M in 2009 to $417M in 2024 (up 177%), and participants from 2,670 to 2,023 (down 24%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DC plans |
|---|---|---|---|---|
| Net assets per participant | $206,328 | $50,295 | $54,962 | $53,102 |
| Employer contributions per active participant | $9,553 | $2,045 | $2,728 | $2,175 |
| Schedule C compensation per participant | $81.47 | $82.08 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.04% | 0.17% | 0.33% | 0.26% |
| Administrative expenses per participant | $125 | $82.20 | $166 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 1,000 to 4,999 participants (10,207 plans), construction (4,204) and all US plans (63,460). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 2,023 | $417M | $206,328 | $16.6M | $534K | $165K |
| 2023 | 2,025 | $386M | $190,557 | $17.4M | $163K | $175K |
| 2022 | 2,029 | $340M | $167,593 | $16.3M | $92K | $136K |
| 2021 | 2,054 | $336M | $163,648 | $15.1M | $86K | $139K |
| 2020 | 2,115 | $349M | $165,014 | $13.5M | $73K | $180K |
| 2019 | 2,167 | $289M | $133,529 | $13.6M | $63K | $178K |
| 2018 | 2,232 | $274M | $122,696 | $12.8M | $59K | $180K |
| 2017 | 2,296 | $273M | $118,692 | $13.3M | $68K | $42K |
| 2016 | 2,441 | $253M | $103,637 | $13.4M | $69K | $37K |
| 2015 | 2,604 | $233M | $89,288 | $13.0M | $72K | $36K |
| 2014 | 2,622 | $225M | $85,838 | $11.5M | $66K | $56K |
| 2013 | 2,610 | $211M | $81,002 | $11.7M | $58K | $52K |
| 2012 | 2,655 | $193M | $72,825 | $11.1M | $305K | $58K |
| 2011 | 2,649 | $173M | $65,182 | $11.4M | $50K | $82K |
| 2010 | 2,609 | $168M | $64,493 | $11.3M | $42K | $90K |
| 2009 | 2,670 | $150M | $56,363 | $11.7M | — | $66K |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$385,878,182
- Employer contributions$16,565,444
- Participant contributions$534,303
- Rollovers and other contributions$748,472
- Total contributions$17,848,219
- Total income, including investment results$52,915,773
- Benefits paid$20,825,322
- Administrative expenses$253,250
- Total expenses$21,391,836
- Net income$31,523,937
- Net transfers$0
- Net assets, end of year$417,402,119
Participants
- Active participants1,734
- Retired or separated, receiving benefits—
- Retired or separated, entitled to future benefits289
- Participants with account balances2,023
- Total participants, end of year2,023
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Empower Annuity Insurance Company | Investment management; Custodial (securities) | $120,058 | $0 |
| Calibre CPA Group PLLC | Accounting (including auditing) | $16,800 | $0 |
| Marquette Associates, Inc. | Consulting fees | $14,040 | $0 |
| Hunt Insurance Agency, Inc. | Insurance brokerage commissions and fees | $0 | $7,595 |
| Arnold & Kadjan | Legal | $6,313 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Recordkeeping fees$120,058
- Other administrative expenses$74,521
- IQPA audit fees$16,800
- Salaries and allowances$14,828
- Investment advisory and management fees$14,040
- Legal fees$8,738
- Actuarial fees$4,081
- Trustee and custodial fees$184
- Total administrative expenses$253,250
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Common/collective trusts$209M · 50.0%
- Other investments$92.1M · 22.0%
- Registered investment companies (mutual funds)$82.2M · 19.6%
- Pooled separate accounts$27.2M · 6.5%
- Cash (interest and non-interest bearing)$4.1M · 1.0%
- Receivables$2.0M · 0.5%
- Participant loans$1.6M · 0.4%
- Buildings and other property used in plan operation$4,358 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmCalibre CPA Group, PLLC
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondNo
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
2EProfit-sharing plan2GTotal participant-directed account plan2JCode section 401(k) feature2TTotal or partial participant-directed account plan with a default investment account
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 238210: Electrical Contractors.
Other plans of Board of Trustees-Local 701 Retirement Savings Fund
| Plan | Participants | Net assets |
|---|---|---|
| IBEW Local 701 Pension Fund | 2,779 | $528M |
Similar plans in Illinois
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Morton Buildings, Inc. 401(k) and ESOP | Morton Buildings, Inc. | 2,087 | $211M | $101,203 |
| IUOE Local 965 Annuity Plan | Board of Trustees, IUOE Local 965 Annuity Fund | 1,975 | $29.0M | $14,695 |
| Morton Buildings, Inc. Leveraged Employee Stock Ownership Plan | Morton Buildings, Inc. | 2,087 | $157M | $75,465 |
| IBEW Neca Conduit 401(k) Plan | Board of Trustees of IBEW Neca Conduit 401(k) Plan | 1,951 | $41.3M | $21,149 |
| Empire Today, LLC 401(k) Profit Sharing Plan | Empire Today, LLC | 2,143 | $63.7M | $29,710 |
| Tuckpointers Local 52 Defined Contribution Annuity Trust Fund | Tuckpointers Local 52 Defined Contribution Annuity Trust Fund | 1,947 | $202M | $103,802 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is IBEW Local 701 Retirement Savings Fund?
2,023 participants at the end of the plan year ending 31 May 2025, of whom 1,734 were active employees, with net assets of $417,402,119. Among defined contribution plans that places it in the 1,000 to 4,999 participants band, which held 10,207 plans in plan year 2024.
What does Board of Trustees-Local 701 Retirement Savings Fund contribute per participant?
The filing reports $16,565,444 in employer contributions for the year, which is $9,553 per active participant; the median for plans of the same type and size was $2,045 in plan year 2024. Form 5500 reports the total only. It does not state the match formula, and the per-participant figure is an average, not any one person's contribution.
What fees does the plan pay and how do they compare?
Schedule C reports $164,806 in compensation to service provider organisations, $81.47 per participant or 0.04% of net assets. The same-size median among plans reporting any Schedule C compensation was $82.08 per participant. Administrative expenses on Schedule H were $253,250. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Board of Trustees-Local 701 Retirement Savings Fund. Investment advisory or management: Empower Annuity Insurance Company. Trustee or custodian: Empower Annuity Insurance Company. The financial statements were audited by Calibre CPA Group, PLLC. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jun 2024 to 31 May 2025, received by the Department of Labor on 2 Feb 2026. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 36-6455509, plan 002, received 2 Feb 2026; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.