401(k) · DOL Form 5500 · 2023

Trustees Electrical Workers Local 242 401(k) Plan 401(k) Plan

Data updated 2026-08-25

$24M
Total assets Small plan by assets
479
Participants Below avg headcount
76th
Percentile by assets National rank
$49,519
Avg per participant Low balance/head
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Official DOL plan name: Electrical Workers Local 242 401(k) Plan · Sponsored by Trustees Electrical Workers Local 242 401(k) Plan · Minnesota · Construction

$24M in assets, 479 participants

Trustees Electrical Workers Local 242 401(k) Plan's Electrical Workers Local 242 401(k) Plan reported $24M in total assets and 479 participants in its 2023 DOL Form 5500 filing, ranking in the 76th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #6,702 in Construction (9,030 peers)

Coverage in Minnesota

Electrical Workers Local 242 401(k) Plan covers 479 participants in Minnesota, about 43% of the average Minnesota filer (state average ~1,126 per filing). Assets: $24M.

#6,702
in Construction (9,030 peers)
+21.2%
assets growth YoY
0.2×
vs typical plan assets (national mean)

Electrical Workers Local 242 401(k) Plan's outsized position by total assets

Electrical Workers Local 242 401(k) Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$23,719,507 Top 24% higher than 76% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

Electrical Workers Local 242 401(k) Plan among mid-size filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Electrical Workers Local 242 401(k) Plan sits mid-pack in the medium band (479 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Electrical Workers Local 242 401(k) Plan reported net income rose from -$3M in the plan year 2022 filing to $4M in the plan year 2023 filing.
  • Electrical Workers Local 242 401(k) Plan end-of-year assets rose from $20M in the plan year 2022 filing to $24M in the plan year 2023 filing.
  • Electrical Workers Local 242 401(k) Plan reported participants rose from 446 in the plan year 2022 filing to 479 in the plan year 2023 filing.

See the national 2022→2023 release diff →

DOL schedule card

Filing strip 411972744 · Trustees Electrical Workers Local 242 401(k) Plan PY 2023 · 401(k)

Electrical Workers Local 242 401(k) Plan · $24M · 479 · 76th

  • PCT $24M
  • EIN 479
  • RANK 76th
  • PHOTO 401(k)
  • IND near Zipline 401(k) Plan
  • EOY ind #6702

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Construction retirement plans → · Plans in Minnesota →

Electrical Workers Local 242 401(k) Plan in the asset neighbourhood

Electrical Workers Local 242 401(k) PlanElectrical Workers Local 242…$24MZipline 401(k) Plan$24MNorth Country Healthcare, Inc. 401(k) Retirement PlanNorth Country Healthcare, In…$24MBrc Non-Union 403(b) Plan$24MBrennan Center for Justice 401(k) Profit Sharing PlanBrennan Center for Justice 4…$24M
End-of-year total assets ($M) among Electrical Workers Local 242 401(k) Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Minnesota filing particulars

Total Assets (Beginning of Year)$20M
Net Assets (End of Year)$24M
Net Income$4M
Employer EIN411972744
Plan Effective Date2000-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Trustees Electrical Workers Local 242 401(k) Plan)

Sponsor-wide plan assets over time

All Trustees Electrical Workers Local 242 401(k) Plan plans reported in each filing year

Latest sponsor-wide plan assets
$28M 42.96033588531298% vs 2022
2024 filing year
$15M$20M$25M$30M 202220232024 $19.6M $28M ▲ +43.0%
Year Plans Participants Total Assets
2022 1 446 $20M
2023 1 479 $24M
2024 1 512 $28M

Nearby 401(k) Plans in Minnesota

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Electrical Workers Local 242 401(k) Plan vs. nearby 401(k) plans in Minnesota, assets vs. participants Scatter plot of 6 data points. -1000000100000200000300000400000500000 -50510152025 Total assets ($B) Participants Electrical Workers Local 242 401(k) Plan, Total assets ($B): 0.023719507 · Participants: 479Electrical Workers Local 242 401(k) PlanUnitedhealth Group 401(k) Savings Plan, Total assets ($B): 22.432100178 · Participants: 198972Unitedhealth Group 401(k) Savings PlanTarget Corporation 401(k) Plan, Total assets ($B): 13.008265857 · Participants: 432617Target Corporation 401(k) PlanMedtronic Savings and Investment Plan, Total assets ($B): 12.931979 · Participants: 44342Medtronic Savings and Investment Plan3M Voluntary Investment Plan and Employee Stock Ownership Plan, Total assets ($B): 12.04661588 · Participants: 360493M Voluntary Investment Plan and Employee Stock Ownership PlanU.S. Bank 401(k) Savings Plan, Total assets ($B): 10.271161911 · Participants: 75272U.S. Bank 401(k) Savings Plan
Electrical Workers Local 242 401(k) Plan vs. nearby 401(k) plans in Minnesota, assets vs. participants
Compare Electrical Workers Local 242 401(k) Plan side-by-side with 3 peers →

Electrical Workers Local 242 401(k) Plan's out-of-state 401(k) peers by assets and headcount

Outside Minnesota, the nearest 401(k) by assets is Zipline 401(k) Plan in CA ($24M); by covered participants it is Hartt's 401(k) Plan in ME (479 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($24M here).

Similar participant headcount

Nearest other-state filings by covered participants (479 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Electrical Workers Local 242 401(k) Plan assets move in 2023? ▼
Electrical Workers Local 242 401(k) Plan grew sharply - up 21.2% during 2023, from $20M to $24M. Reported net income was $4M.
How have Trustees Electrical Workers Local 242 401(k) Plan plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Trustees Electrical Workers Local 242 401(k) Plan's sponsor-wide assets grew 43.0%, from $20M to $28M.
Where does Electrical Workers Local 242 401(k) Plan rank by assets among Form 5500 filers? ▼
Electrical Workers Local 242 401(k) Plan ranks in the 76th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top quartile of all filed plans by assets).
Which 401(k) plans are similar in size to Electrical Workers Local 242 401(k) Plan? ▼
Among 401(k) plans in other states, the closest by assets is Zipline 401(k) Plan in CA ($24M, 512 participants).
Which 401(k) plans cover a similar participant headcount to Electrical Workers Local 242 401(k) Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Hartt's 401(k) Plan in ME (479 participants, N/A in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 411972744.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.