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Original filing (PDF)20260310150656NAL0003884080002
IBEW LOCAL UNION 241
Form 5500
FILING_RECEIVED
IBEW LOCAL #241 WELFARE BENEFITS PLAN
Health & welfare plan
Signals · 3
~270 bps in Sched C feesNo recordkeeper disclosed8 service providers
Active participants
170
Accounts w/ balance
—
Plan assets (EOY)
$12.7M
Net assets (EOY)
$12.5M
How this plan invests
This plan
11 securities
funds · stocks · CUSIPs
Holdings are itemized directly on this plan's Schedule of Assets, below.
Plan health score (directional)
88
/ 100
Grade A
Top-tier plan health
Directional indicator computed from public Form 5500 data — compliance, concentration, cost, vendor stack and participation. Not a fiduciary tool.
Compliance & disclosures
100
Concentration risk
100
Total plan cost
65
Vendor stack
68
Participation health
100
Knocking points off
- 270 bps in Schedule C fees — 832% above peer band of 29 bps.
- No recordkeeper disclosed on Schedule C.
- Highly fragmented vendor stack (8 disclosed providers, 5 categories).
Decision-maker contacts
CFO / Head of HR / Benefits Manager — verified email + LinkedIn for IBEW LOCAL UNION 241.
Plan sponsor
Name
IBEW LOCAL UNION 241
EIN
15-0347948
Address
134 CECIL A MALONE DRIVE · ITHACA, NY · 14850
Phone
(607) 272-2809
Industry
Electrical Contractors· Constructionsee all
Plan administrator
Same as plan sponsor.
Plan characteristics
Plan number
501
Plan year
2024
Plan year begin
2024-06-01
Tax period
2025-05-31
Filed
2026-03-10
Welfare benefit codes
4A · Health (other than dental or vision)
4B · Life Insurance
4D · Dental
4E · Vision
4F · Temporary Disability (accident and sickness)
4L · Death Benefits (other than life insurance)
Audit & trust (Schedule H)
Auditor
MENGEL METZGER BARR & CO. LLP
Trustee / custodian
—
Trustee phone
—
Service providers (Schedule C)
8 rowsTPA / Administrator
1| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| SOLXSYS ADMINISTRATIVE SOLUTIONS | 83-2454243 | TROY, MI | THIRD PARTY ADMINISTRATOR | $83K | — |
Accountant / Auditor
2| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| MENGEL METZGER BARR & CO | 16-1092347 | — | AUDITOR | $35K | — |
| MCCARTHY & ASSOCIATES | 16-1120588 | — | PAYROLL AUDITOR | $14K | — |
Actuary
1| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| BOLTON PARTNERS NORTHEAST | 22-3502478 | — | ACTUARY | $24K | — |
Legal counsel
1| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| BLITMAN & KING | 16-1047304 | — | ATTORNEY | $35K | — |
Other
3| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| EXCELLUS BLUE CROSS BLUE SHIELD | 15-0329043 | — | — | $122K | — |
| LIFETIME BENEFIT SOLUTIONS | — | LIVERPOOL, NY | — | $15K | — |
| SEGAL ADVISORS | 13-2646110 | — | — | $15K | — |
Investments
11 direct securities· $11.2M(88% of reported assets)
Uncategorized
$9.1M
10 holdings
Mutual Funds
$2.1M
1 holding
| PI | Investment | Type | Shares / units | Cost | Current value | % of plan |
|---|---|---|---|---|---|---|
| BNY Mellon Global Stock Y shares | Mutual Funds | — | $2.2M | $2.1M | 16.9% | |
| File Diversified Income I shares | — | — | $2.3M | $2.1M | 16.5% | |
| John Hancock Income Fund R6 shares | — | — | $2.3M | $2.1M | 16.2% | |
| Legg Mason BW Global Opportunities Fund Class-FI shares | — | — | $2.2M | $1.9M | 15.2% | |
| Eaton Vance Atlanta Capital SMID-Cap shares | — | — | $1.0M | $1.1M | 8.6% | |
| Identity of issue, borrower, rate of interest, collateral, Current interest lessor or similar party par or maturity value Cost value Money Market Tompkins Trust Company money market | — | — | $719K | $719K | 5.7% | |
| Frontier MFG Core Infrastructure Fund shares | — | — | $533K | $616K | 4.9% | |
| Cohen & Steers Global Infrastructure Fund Inc. shares | — | — | $502K | $536K | 4.2% | |
| Amalgamated cash | — | — | $18K | $18K | 0.1% | |
| SIGN Signature ol DFE Date Enter name of individual signing as DFE For Paperwork Reduction Act Notice, see the lnstructions lor Form 5500. | — | — | — | $3K | <0.1% | |
| Goldman Financial Square Govt-A | — | — | $1K | $1K | <0.1% |