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Original filing (PDF)20251013201714NAL0000930995002
IBEW LOCAL 456 SUPPLEMENTAL WELFARE FUND
Form 5500
FILING_RECEIVED
IBEW LOCAL 456 SUPPLEMENTAL WELFARE
Health & welfare plan
Signals · 4
28% in single holding~622 bps in Sched C feesNo recordkeeper disclosed6 service providers
Active participants
1,315
Accounts w/ balance
—
Plan assets (EOY)
$11.4M
Net assets (EOY)
$10.5M
How this plan invests
This plan
8 securities
funds · stocks · CUSIPs
Holdings are itemized directly on this plan's Schedule of Assets, below.
Plan health score (directional)
86
/ 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
86
Total plan cost
65
Vendor stack
80
Participation health
100
Knocking points off
- Top holding "Vanguard Total Bond Market Index Fund Inst" is 28% of plan.
- 622 bps in Schedule C fees — 2044% above peer band of 29 bps.
- No recordkeeper disclosed on Schedule C.
Decision-maker contacts
CFO / Head of HR / Benefits Manager — verified email + LinkedIn for IBEW LOCAL 456 SUPPLEMENTAL WELFARE FUND.
Plan sponsor
Name
IBEW LOCAL 456 SUPPLEMENTAL WELFARE FUND
EIN
20-0500732
Address
C/O I.E. SHAFFER CO., PO BOX 1028 · 830 BEAR TAVERN ROAD · WEST TRENTON, NJ · 086280230
Phone
(800) 792-3666
Industry
Electrical Contractors· Constructionsee all
Plan administrator
Name
I.E. SHAFFER & CO.
EIN
22-1750854
City
WEST TRENTON, NJ
Phone
(800) 792-3666
Plan characteristics
Plan number
502
Plan year
2024
Plan year begin
2024-01-01
Tax period
2024-12-31
Filed
2025-10-13
Welfare benefit codes
4A · Health (other than dental or vision)
4D · Dental
4F · Temporary Disability (accident and sickness)
Audit & trust (Schedule H)
Auditor
MSPC CERTIFIED PUBLIC ACCOUNTANTS &
Trustee / custodian
—
Trustee phone
—
Service providers (Schedule C)
6 rowsOther
6| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| I.E. SHAFFER & CO. | 22-1750854 | WEST TRENTON, NJ | NONE | $348K | — |
| LABOR FIRST LLC | 06-1750191 | MOUNT LAUREL, NJ | NONE | $228K | — |
| AETNA LIFE INSURANCE COMPANY | 06-6033492 | — | NONE | $63K | — |
| CAPITAL RX, INC. | — | NEW YORK, NY | NONE | $45K | — |
| MSPC CERTIFIED PUBLIC ACCOUNTANTS | 22-2951202 | CRANFORD, NJ | NONE | $14K | — |
| VANGUARD | — | WAYNE, PA | NONE | $12K | — |
Investments
8 direct securities· $9.4M(82% of reported assets)
| PI | Investment | Type | Shares / units | Cost | Current value | % of plan |
|---|---|---|---|---|---|---|
| Vanguard Total Bond Market Index Fund Inst | — | — | $2.8M | $2.6M | 22.7% | |
| Vanguard Total International Bond Index Inst | — | — | $2.4M | $2.3M | 20.1% | |
| Vanguard Short−Term Investment Inst 1,538,487 | — | — | $1.5M | $1.5M | 13.3% | |
| Vanguard Intermediate -Term Inv Grade Admiral | — | — | $1.2M | $1.1M | 9.8% | |
| Vanguard Total Stock Market Index Fund Inst | — | — | $613K | $982K | 8.6% | |
| Vanguard Total International Stock Index Inst | — | — | $568K | $614K | 5.4% | |
| Vanguard Real Estate Index Fund Admiral | — | — | $253K | $266K | 2.3% | |
| Magyar Bank | — | — | $26K | $26K | 0.2% |