Iowa › Construction › 250 to 499 participants
Form 5500 statement · plan year 1 Jun 2024 to 31 May 2025
IBEW Local 13 Retirement Plan
Sponsored by IBEW Local No. 13 & Southeast Iowa Div.of Neca Joint Board of Trustee, Burlington, IA
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 13 Retirement Plan is a money purchase plan sponsored by IBEW Local No. 13 & Southeast Iowa Div.of Neca Joint Board of Trustee of Burlington, Iowa. For the plan year ending 31 May 2025 it reported 396 participants, 327 of them active, and net assets of $59.4M. It is a multiemployer plan, maintained under collective bargaining agreements with more than one employer.
Net assets came to $150,110 per participant, well above the $48,746 median for defined contribution plans with 250 to 499 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 $4.3M during the year, or $13,056 per active participant against a same-size median of $2,017; participants contributed — and $102K arrived as rollovers and other contributions. Benefits paid out totalled $2.6M.
Schedule C lists 6 service provider organisations paid $5,000 or more, with reported compensation of $129K: $326 per participant, well above the same-size median of $141. Administrative expenses charged to the plan were $123K. 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 $12.9M in 2009 to $59.4M in 2024 (up 360%), and participants from 291 to 396 (up 36%).
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 | $150,110 | $48,746 | $54,962 | $53,102 |
| Employer contributions per active participant | $13,056 | $2,017 | $2,728 | $2,175 |
| Schedule C compensation per participant | $326 | $141 | $162 | $123 |
| Schedule C compensation, share of net assets | 0.22% | 0.30% | 0.33% | 0.26% |
| Administrative expenses per participant | $312 | $133 | $166 | $116 |
Peer columns are medians for plan year 2024 across defined contribution plans with 100 or more participants: 250 to 499 participants (17,456 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 | 396 | $59.4M | $150,109 | $4.3M | — | $129K |
| 2023 | 341 | $52.6M | $154,390 | $4.0M | — | $105K |
| 2022 | 305 | $47.7M | $156,334 | $3.5M | — | $106K |
| 2021 | 300 | $48.7M | $162,423 | $3.2M | — | $95K |
| 2020 | 311 | $50.8M | $163,302 | $2.2M | — | $76K |
| 2019 | 293 | $37.8M | $128,840 | $2.2M | — | $78K |
| 2018 | 281 | $34.8M | $123,929 | $2.4M | — | $87K |
| 2017 | 275 | $33.0M | $119,938 | $2.3M | — | $148K |
| 2016 | 281 | $28.6M | $101,619 | $2.2M | — | $126K |
| 2015 | 281 | $24.6M | $87,594 | $2.3M | — | $136K |
| 2014 | 289 | $23.5M | $81,436 | $2.2M | — | $144K |
| 2013 | 268 | $21.6M | $80,716 | $1.7M | — | $119K |
| 2012 | 277 | $18.8M | $67,949 | $1.7M | — | $109K |
| 2011 | 230 | $15.6M | $67,648 | $1.5M | — | $118K |
| 2010 | 231 | $15.5M | $67,043 | $1.3M | — | $71K |
| 2009 | 291 | $12.9M | $44,388 | $1.1M | — | $91K |
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$52,646,929
- Employer contributions$4,269,173
- Participant contributions—
- Rollovers and other contributions$101,904
- Total contributions$4,371,077
- Total income, including investment results$9,506,448
- Benefits paid$2,586,428
- Administrative expenses$123,486
- Total expenses$2,709,914
- Net income$6,796,534
- Net transfers$0
- Net assets, end of year$59,443,463
Participants
- Active participants327
- Retired or separated, receiving benefits0
- Retired or separated, entitled to future benefits69
- Participants with account balances396
- Total participants, end of year396
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Empower Annuity Insurance Company | Recordkeeping fees | $45,004 | $0 |
| Blake & Uhlig | Legal | $28,597 | $0 |
| Deboer & Associates, PC | Accounting (including auditing) | $20,130 | $0 |
| Noridian Benefits Plan Administrato | Contract Administrator | $13,616 | $0 |
| Investment Consulting Group, Inc. | Investment advisory (plan) | $13,000 | $0 |
| Wilson-McShane Corp. | Contract Administrator | $8,855 | $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
- Legal fees$28,597
- Contract administrator fees$22,471
- IQPA audit fees$15,820
- Trustee and custodial fees$15,217
- Investment advisory and management fees$13,000
- Other administrative expenses$12,940
- Other trustee fees and expenses$11,131
- Recordkeeping fees$4,310
- Total administrative expenses$123,486
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.
- Registered investment companies (mutual funds)$54.2M · 91.1%
- Common/collective trusts$4.1M · 6.9%
- Receivables$1.0M · 1.7%
- Cash (interest and non-interest bearing)$182K · 0.3%
- Buildings and other property used in plan operation$2,654 · 0.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmDeboer & Associates, PC
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $500,000
- 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
2CMoney purchase (other than target benefit) plan2GTotal participant-directed account plan2FERISA section 404(c) plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 238210: Electrical Contractors.
Similar plans in Iowa
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Scintilla 401(k) Plan | Scintilla Eg Holdings, Inc. | 406 | $31.0M | $76,266 |
| Kinzler Employee Stock Ownership Plan and Trust Agreement | Kinzler Construction Services, Inc. | 394 | $7.9M | $19,931 |
| Klinger Companies, L.L.C. 401(k) Plan | Klinger Companies, L.L.C. | 409 | $75.1M | $183,706 |
| Seedorff 401(k) Savings Plan | Seedorff Holdings, Inc. | 372 | $26.1M | $70,128 |
| Central Iowa Sheet Metal Workers Supplemental Retirement 401(k) Plan | Central Iowa Sheet Metal Workers Supplemental Retirement 401(k) | 526 | $61.8M | $117,494 |
| Todd & Sargent, Inc. 401(k) Profit Sharing Plan | Todd & Sargent, Inc. | 355 | $21.9M | $61,802 |
Defined contribution plans in construction closest in size.
Questions and answers
How big is IBEW Local 13 Retirement Plan?
396 participants at the end of the plan year ending 31 May 2025, of whom 327 were active employees, with net assets of $59,443,463. Among defined contribution plans that places it in the 250 to 499 participants band, which held 17,456 plans in plan year 2024.
What does IBEW Local No. 13 & Southeast Iowa Div.of Neca Joint Board of Trustee contribute per participant?
The filing reports $4,269,173 in employer contributions for the year, which is $13,056 per active participant; the median for plans of the same type and size was $2,017 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 $129,202 in compensation to service provider organisations, $326 per participant or 0.22% of net assets. The same-size median among plans reporting any Schedule C compensation was $141 per participant. Administrative expenses on Schedule H were $123,486. 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 IBEW Local No. 13 & Southeast Iowa Div.of Neca Joint Board of Trustee. Recordkeeping or administration: Empower Annuity Insurance Company, Noridian Benefits Plan Administrato and Wilson-McShane Corp.. Investment advisory or management: Investment Consulting Group, Inc.. The financial statements were audited by Deboer & Associates, PC. 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 28 Jan 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 42-1123177, plan 001, received 28 Jan 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.