Original filing (PDF)20251006120201NAL0006396384002

IBEW LOCAL UNION NO 351 WELFARE AND SUPPLEMENTAL FUND

Name: IBEW LOCAL UNION NO 351 WELFARE AND SUPPLEMENTAL FUND — Form 5500 (2024)
Creator: IBEW LOCAL UNION NO 351 WELFARE AND SUPPLEMENTAL FUND

Form 5500

FILING_RECEIVED

Health & welfare plan

Signals · 3

37% in single holding~166 bps in Sched C feesNo recordkeeper disclosed

Active participants

1,698

Accounts w/ balance

—

Plan assets (EOY)

$18.7M

Net assets (EOY)

$16.7M

How this plan invests

This plan

259 securities

funds · stocks · CUSIPs

Holdings are itemized directly on this plan's Schedule of Assets, below.

Plan health score (directional)

/ 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

Total plan cost

Vendor stack

Participation health

100

Knocking points off

Top holding "Empower Fixed Rate Fund" is 37% of plan.
166 bps in Schedule C fees — 473% 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 UNION NO 351 WELFARE AND SUPPLEMENTAL FUND.

Plan sponsor

Name

IBEW LOCAL UNION NO 351 WELFARE AND SUPPLEMENTAL FUND

EIN

45-4955344

Address

830 BEAR TAVERN ROAD · PO BOX 1028 · WEST TRENTON, NJ · 08628

Phone

(609) 718-1323

Industry

Electrical Contractors· Constructionsee all

Plan administrator

Same as plan sponsor.

Plan characteristics

Plan number

501

Plan year

2024

Plan year begin

2024-01-01

Tax period

2024-12-31

Filed

2025-10-06

Welfare benefit codes

4A · Health (other than dental or vision)

4D · Dental

4E · Vision

Audit & trust (Schedule H)

Auditor

GERSON & ASSOC CPAS AND ADVISORS PC

Trustee / custodian

—

Trustee phone

—

Service providers (Schedule C)

5 rows

Other

Name	EIN	Location	Relation	Direct comp	Indirect comp
I.E. SHAFFER & CO	22-1750854	WEST TRENTON, NJ	NONE	$255K	—
GERSON & ASSOC CPAS AND ADVISORS PC	22-3163246	ROCHELLE PARK, NJ	NONE	$27K	—
MORGAN STANLEY	—	NEW YORK, NY	NONE	$15K	—
OBRIEN BELLAND & BUSHINSKY	37-1467056	—	NONE	$9K	—
SUMMIT ACTURIAL	77-0645890	—	NONE	$5K	—

Investments

259 direct securities· $18.8M(100% of reported assets)

Uncategorized

$18.7M

257 holdings

Corporate Bonds

$152K

2 holdings

Investment	Type	Shares / units	Cost	Current value	% of plan
Empower Fixed Rate Fund	—	—	$7.1M	$6.9M	37.0%
Total Contributions	—	—	$11.3M	$695K	3.7%
US Treasury Note 4/30/2028	—	—	$525K	$512K	2.7%
Federal National MTG Assn Pool MA5107 8/1/2053	—	—	$408K	$423K	2.3%
US Treasury Note 6/30/2028	—	—	$322K	$322K	1.7%
US Treasury Note 11/30/2027	—	—	$286K	$282K	1.5%
US Treasury Note 5/15/2032	—	—	$311K	$279K	1.5%
Money funds/cash	—	—	$245K	$245K	1.3%
US Treasury Note 2/15/2027	—	—	$248K	$240K	1.3%
US Treasury Note 2/28/2031	—	—	$235K	$232K	1.2%
US Treasury Note 9/30/2027	—	—	$249K	$225K	1.2%
US Treasury Note 11/30/2031	—	—	$170K	$166K	0.9%
US Treasury Note 1/31/2030	—	—	$169K	$163K	0.9%
US Treasury Note 2/28/2030	—	—	$159K	$157K	0.8%
US Treasury Note 3/15/2027	—	—	$149K	$150K	0.8%
US Treasury Note 10/31/2030	—	—	$147K	$148K	0.8%
US Treasury Note 12/31/2027	—	—	$141K	$138K	0.7%
US Treasury Note 4/30/2029	—	—	$130K	$131K	0.7%
US Treasury Note 11/15/2033	—	—	$135K	$130K	0.7%
US Treasury Note 8/31/2026	—	—	$125K	$124K	0.7%
John Deere Capital Corp 3/9/2027	—	—	$126K	$118K	0.6%
US Treasury Note 8/15/2034	—	—	$121K	$114K	0.6%
Apple Inc 2/9/2027	—	—	$117K	$113K	0.6%
Federal National MTG Assn Pool MA4724 9/1/2037	—	—	$112K	$111K	0.6%
Citigroup Inc 5/24/2033	—	—	$107K	$106K	0.6%
US Treasury Note 12/31/2030	—	—	$109K	$106K	0.6%
Duke Energy 9/15/2033	—	—	$103K	$103K	0.5%
Capital One Financial Corp 2/5/2025	—	—	$95K	$100K	0.5%
Truist Financial Corp 6/5/2025	—	—	$101K	$100K	0.5%
US Treasury Note 7/31/2028	—	—	$100K	$99K	0.5%
Pepsico Inc 2/15/2033	—	—	$96K	$99K	0.5%
Bank of Montreal 5/1/2025	—	—	$100K	$99K	0.5%
International Business Machines Corp 5/15/2026	—	—	$101K	$98K	0.5%
JPMorgan Chase & Co 6/14/2030	—	—	$138K	$98K	0.5%
Kraft Heinz Foods Co 5/15/2027	—	—	$98K	$98K	0.5%
Wells Fargo & Co 4/22/2026	—	—	$102K	$98K	0.5%
US Treasury Note 9/15/2027	—	—	$100K	$98K	0.5%
Northrop Grumman Corp 6/1/2034	—	—	$99K	$98K	0.5%
PNC Financial Services Group Inc 7/23/2026	—	—	$100K	$97K	0.5%
US Treasury Note 8/31/2029	—	—	$101K	$97K	0.5%
TJX Cos Inc 9/15/2026	—	—	$102K	$96K	0.5%
AT&T Inc 6/1/2027	—	—	$102K	$94K	0.5%
Broadcom Inc 11/15/2032	—	—	$92K	$94K	0.5%
Valero Energy Corp 9/15/2027	—	—	$101K	$94K	0.5%
Norfolk Southern Corp 6/15/2026	—	—	$98K	$93K	0.5%
US Treasury Note 2/15/2033	—	—	$95K	$88K	0.5%
Qualcomm Inc 5/20/2030	—	—	$83K	$88K	0.5%
US Treasury Note 2/15/2032	—	—	$100K	$84K	0.4%
Goldman Sachs Group Inc 10/24/2029	—	—	$83K	$84K	0.4%
Waste Management Inc 3/1/2025	—	—	$80K	$80K	0.4%
Bank of America Corp 2/13/2031	—	—	$110K	$79K	0.4%
Abbvie Inc 11/14/2028	—	—	$87K	$79K	0.4%
Bank of America Corp 7/22/2033	—	—	$121K	$78K	0.4%
Autozone Inc 6/1/2027	—	—	$84K	$78K	0.4%
Berkshire Hathaway Energy Co 2/1/2025	Corporate Bonds	—	$77K	$77K	0.4%
Amazon.com Inc 5/12/2031	—	—	$90K	$77K	0.4%
Coca-Cola Co 9/6/2029	—	—	$86K	$76K	0.4%
US Treasury Note 5/31/2026	—	—	$75K	$76K	0.4%
Amgen Inc 3/2/2028	Corporate Bonds	—	$76K	$76K	0.4%
Asplundh Tree Expert, Willow Grove, PA 511,058.00	—	—	—	$74K	0.4%
Campbell Soup Co 3/15/2028	—	—	$74K	$73K	0.4%
General Motors Financial Co Inc 4/6/2029	—	—	$75K	$72K	0.4%
Citigroup Inc 3/31/2031	—	—	$72K	$72K	0.4%
Eli Lilly & Co 3/15/2029	—	—	$68K	$71K	0.4%
US Treasury Note 8/15/2027	—	—	$77K	$71K	0.4%
John Deere Capital Corp 1/20/2028	—	—	$71K	$70K	0.4%
US Treasury Note 2/28/2029	—	—	$75K	$68K	0.4%
Tractor Supply Co 11/1/2030	—	—	$79K	$67K	0.4%
Prologis LP 4/15/2030	—	—	$65K	$66K	0.4%
Nvidia Corp 4/1/2030	—	—	$63K	$64K	0.3%
US Treasury Note 5/15/2034	—	—	$68K	$64K	0.3%
US Treasury Note 10/31/2031	—	—	$65K	$64K	0.3%
Keurig Dr Pepper Inc 4/15/2032	—	—	$65K	$61K	0.3%
Government Securities US Treasury Note 5/31/2025	—	—	$60K	$60K	0.3%
US Treasury Note 11/30/2030	—	—	$160K	$60K	0.3%
Verizon Communications Inc 12/3/2029	—	—	$69K	$59K	0.3%
Federal National MTG Assn Pool BR9611 5/1/2036	—	—	$166K	$57K	0.3%
US Treasury Note 10/31/2029	—	—	$54K	$54K	0.3%
US Treasury Note 11/15/2028	—	—	$59K	$53K	0.3%
US Treasury Note 2/15/2030	—	—	$62K	$52K	0.3%
Riggs Distler & Company Inc, Cherry Hill, NJ	—	—	$1.0M	$52K	0.3%
US Treasury Note 11/15/2026	—	—	$50K	$50K	0.3%
Public Storage 5/1/2028	—	—	$55K	$50K	0.3%
DEC Electrical Cont Inc, Berlin, NJ	—	—	$873K	$50K	0.3%
US Treasury Note 7/31/2031	—	—	$51K	$49K	0.3%
US Treasury Note 11/15/2032	—	—	$52K	$49K	0.3%
Toronto-Dominion Bank 1/6/2026	—	—	$50K	$48K	0.3%
Federal National MTG Assn Pool BR3583 1/1/2036	—	—	$53K	$45K	0.2%
Federal National MTG Assn Pool CA8788 1/1/2036	—	—	$52K	$45K	0.2%
US Treasury Note 2/15/2034	—	—	$44K	$43K	0.2%
FHLMC 15 Yr Gold QN4824 1/1/2036	—	—	$48K	$43K	0.2%
Wells Fargo & Co 1/23/2030	—	—	$40K	$40K	0.2%
Burlington Northern Santa Fe LLC 9/1/2025	—	—	$40K	$40K	0.2%
Hanover Insurance Group Inc 9/1/2030	—	—	$47K	$40K	0.2%
US Treasury Note 6/30/2030	—	—	$39K	$39K	0.2%
Day & Zimmerman NPS Inc, Philadelphia, PA	—	—	$744K	$36K	0.2%
US Treasury Note 8/31/2030	—	—	$34K	$34K	0.2%
Calvi Electric Co, Egg Harbor Twp, NJ	—	—	$506K	$33K	0.2%
CVS Health Corp 3/25/2028	—	—	$35K	$32K	0.2%
R Palmieri Electricians, Buena, NJ	—	—	$495K	$31K	0.2%
American Airlines 8/15/2030	—	—	$31K	$30K	0.2%
FHLMC 30 Yr Gold QA4404 11/1/2049	—	—	$36K	$30K	0.2%
Federal National MTG Assn Pool BQ9287 12/1/2035	—	—	$127K	$27K	0.1%
US Treasury Note 5/31/2031	—	—	$26K	$25K	0.1%
US Treasury Note 11/30/2028	—	—	$25K	$22K	0.1%
US Treasury Note 8/15/2032	—	—	$123K	$22K	0.1%
Hughes Electric Co, Pleasantville, NJ	—	—	$337K	$22K	0.1%
Leeway Electric LLC, Landisville, NJ	—	—	$333K	$21K	0.1%
Meridian Services Group Inc, Hamilton, NJ	—	—	—	$20K	0.1%
Seven Utility Services, Sherrills Ford, NC	—	—	—	$20K	0.1%
Mass Electric Construction, Omaha, NE	—	—	—	$19K	0.1%
MNM Group Inc, Willow Grove, PA	—	—	—	$19K	0.1%
Top Line Hands LLC, Dillsboro, IN	—	—	—	$19K	0.1%
Scalfo Electric Inc, Vineland, NJ	—	—	$315K	$19K	0.1%
Modern Electric Co, Clifton, NJ	—	—	—	$18K	<0.1%
KV Power LLC, Andrews, TX	—	—	—	$18K	<0.1%
H B Frazer Company, Phoenixville, PA	—	—	—	$18K	<0.1%
Vanalt Electrical Construction Inc, Yeadon, PA	—	—	—	$18K	<0.1%
Multi-Temp Mechanical Inc, Westville, NJ	—	—	—	$18K	<0.1%
Jet Electrical Testing LLC, Lawrenceville, NJ	—	—	—	$17K	<0.1%
Ronald J Billitier Electric Inc, Rochester, NY	—	—	—	$17K	<0.1%
Atlantic Plant Maintenance/EH Hinds, Pasadena, TX	—	—	—	$16K	<0.1%
Valiant Energy Services LLC, Allentown, PA	—	—	$338K	$16K	<0.1%
Bluestone Communications Inc, Folcroft, PA	—	—	$202K	$16K	<0.1%
M C Controls Inc, Shamong, NJ	—	—	—	$16K	<0.1%
Dynamic Utility Solutions LLC, Lombard, IL	—	—	—	$15K	<0.1%
Bowe & Gant Electrical Services LLC, Sewell, NJ	—	—	$260K	$15K	<0.1%
Bradley-Sciocchetti Inc, Pennsauken, NJ	—	—	—	$15K	<0.1%
Pioneer Natural Resources Co 3/29/2026	—	—	$15K	$15K	<0.1%
IEW Construction Group, Hamilton, NJ	—	—	—	$15K	<0.1%
Lewis Tree Service Inc, West Henrietta, NY	—	—	$102K	$15K	<0.1%
Linecom Inc, Exton, PA	—	—	—	$15K	<0.1%
Goldsmith Associates Inc, Cherry Hill, NJ	—	—	—	$15K	<0.1%
Bryan Electric Inc, Hamilton, NJ	—	—	—	$14K	<0.1%
Government Securities US Treasury Note 5/15/2033	—	—	$15K	$14K	<0.1%
Henkels & McCoy Inc, Blue Bell, PA	—	—	$281K	$14K	<0.1%
County of Burlington, Mount Holly, NJ	—	—	—	$13K	<0.1%
Integral Power Atlantic LLC, Algonquin, IL	—	—	—	$12K	<0.1%
Allan Briteway Electrical Utility Contractors Inc, Florham Park, NJ	—	—	—	$12K	<0.1%
Hatzel-Buehler Inc, Hamilton, NJ	—	—	$203K	$12K	<0.1%
T-Mobile USA Inc 3/15/2028	—	—	$12K	$12K	<0.1%
Sabine Pass Liquefaction LLC 3/1/2025	—	—	$12K	$12K	<0.1%
MJF Electrical Contracting Inc, Morrisville, PA	—	—	—	$11K	<0.1%
Chammings Electric Incorporated, Vineland, NJ	—	—	$192K	$11K	<0.1%
Kane Communications, Trenton, NJ	—	—	$186K	$11K	<0.1%
Climate Pros, Huntingdon Valley, PA	—	—	—	$11K	<0.1%
MBE Mark III Electric Inc, Madison, NJ	—	—	—	$10K	<0.1%
American Lighting & Signal Inc, Willow Grove, PA	—	—	—	$10K	<0.1%
JJD Electric, LLC, Paulsboro, NJ	—	—	$190K	$10K	<0.1%
Orchard Holdings LLC, Manasquan, NJ	—	—	—	$10K	<0.1%
JBL Electric/DBA McPhee Electric, S Plainfield, NJ	—	—	$180K	$10K	<0.1%
Marlee Contractors, Hammonton, NJ	—	—	—	$10K	<0.1%
J White Inc, Philadelphia, PA	—	—	—	$10K	<0.1%
FHLMC 15 Yr Gold G18723 1/1/2034	—	—	$110K	$10K	<0.1%
Atlas Security LLC, Atco, NJ	—	—	—	$9K	<0.1%
Kuharchik Construction Inc, Exeter, PA	—	—	—	$9K	<0.1%
Currentmaster Electric, LLC, Mantua, NJ	—	—	$144K	$9K	<0.1%
Precision Electrical Contractors, Pittsburgh, PA	—	—	—	$9K	<0.1%
North Jersey Power Electrical Cont, Riverdale, NJ	—	—	—	$8K	<0.1%
Finesse Electrical Corp, Freehold, NJ	—	—	—	$8K	<0.1%
Lighton Industries Inc, Toms River, NJ	—	—	—	$8K	<0.1%
Vision Utilities Inc, Berlin, NJ	—	—	—	$8K	<0.1%
Quality Electric Service Co, LLC, Woodbine, NJ	—	—	—	$8K	<0.1%
Huen Electric Inc, Broadview, IL	—	—	$113K	$8K	<0.1%
Kisby Shore Electrical Contractors, Atlantic City, NJ	—	—	$124K	$8K	<0.1%
Ed Cray Electric, Trenton, NJ	—	—	—	$8K	<0.1%
Northeast Electrical Services LLC, Williamstown, NJ	—	—	$106K	$7K	<0.1%
Matrix NAC Inc, Tulsa, OK	—	—	$143K	$7K	<0.1%
Eastern Sign Tech LLC, Burlington, NJ	—	—	—	$6K	<0.1%
Deerfield Electric Construction Inc, Millville, NJ	—	—	$107K	$6K	<0.1%
Scott Testing Inc, Hamilton, NJ	—	—	—	$6K	<0.1%
USA Electrical Construction Contrs, Pitman, NJ	—	—	—	$6K	<0.1%
New River Electrical Corp, Cloverdale, VA	—	—	$125K	$6K	<0.1%
Construction Management Srv Inc, New Market, VA	—	—	—	$6K	<0.1%
ATC Systems Inc, Middlesex, NJ	—	—	—	$6K	<0.1%
Atlantic Coast Communications, Pennsauken, NJ	—	—	—	$6K	<0.1%
Delta Line Construction Co, Egg Harbor Twp, NJ	—	—	$90K	$5K	<0.1%
Davey Tree, Kent, OH	—	—	—	$5K	<0.1%
G M White Electrical Inc, Vineland, NJ	—	—	$78K	$5K	<0.1%
Travis Inc, East Hanover, NJ	—	—	$101K	$5K	<0.1%
EPS Technology Inc, Rockaway, NJ	—	—	—	$5K	<0.1%
Red Rover Electric LLC, Louisville, KY	—	—	—	$5K	<0.1%
Teldat Communications Inc, Hatfield, PA	—	—	—	$5K	<0.1%
NRC Controls, LLC, Deptford, NJ	—	—	—	$5K	<0.1%
Hi Volt Electric, Laurence Harbor, NJ	—	—	—	$5K	<0.1%
Ion Electrical Construction Service, Woodlynne, NJ	—	—	$94K	$5K	<0.1%
Giordano Electric Corp, Toms River, NJ	—	—	—	$5K	<0.1%
Atlantic City Convention Center, Atlantic City, NJ	—	—	$90K	$4K	<0.1%
Jersey State Energy Controls Inc, Brick, NJ	—	—	—	$4K	<0.1%
Maul Power Group, Cranbury, NJ	—	—	—	$4K	<0.1%
Raff Electric, Aston, PA	—	—	—	$4K	<0.1%
M P Electrical Contr, Fords, NJ	—	—	—	$4K	<0.1%
EII Inc, Cranford, NJ	—	—	$86K	$4K	<0.1%
IJB Electrical Contractor LLC, Moorestown, NJ	—	—	—	$4K	<0.1%
Diehl Electric Contractor Inc, Hammonton, NJ	—	—	$73K	$4K	<0.1%
Lanconnect Inc, Norristown, PA	—	—	—	$4K	<0.1%
Daidone Electric Incorporated, Newark, NJ	—	—	—	$4K	<0.1%
T & J Electrical Associates LLC, Clifton Park, NY	—	—	—	$4K	<0.1%
CJ Drilling Inc, Dundee, IL	—	—	$80K	$4K	<0.1%
Bam Electrical Contracting LLC, Pennsauken, NJ	—	—	—	$4K	<0.1%

Showing top 200 of 259 investments by value.