Profit Sharing · DOL Form 5500 · 2023

Board of Trustees IBEW Local 56 Employees Deferred Savings Plan Profit Sharing Plan

Data updated 2026-08-25

$49M
Total assets Below avg plan size
298
Participants Below avg headcount
85th
Percentile by assets National rank
$165,914
Avg per participant Above avg balance/head
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Official DOL plan name: IBEW Local 56 Employees Deferred Savings Plan · Sponsored by Board of Trustees IBEW Local 56 Employees Deferred Savings Plan · Pennsylvania · Construction

$49M in assets, 298 participants

Board of Trustees IBEW Local 56 Employees Deferred Savings Plan's IBEW Local 56 Employees Deferred Savings Plan reported $49M in total assets and 298 participants in its 2023 DOL Form 5500 filing, ranking in the 85th 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.

  • #7,527 in Construction (9,030 peers)

Coverage in Pennsylvania

IBEW Local 56 Employees Deferred Savings Plan covers 298 participants in Pennsylvania, about 36% of the average Pennsylvania filer (state average ~822 per filing). Assets: $49M.

#7,527
in Construction (9,030 peers)
+17.0%
assets growth YoY
0.5×
vs typical plan assets (national mean)

IBEW Local 56 Employees Deferred Savings Plan's outsized position by total assets

IBEW Local 56 Employees Deferred Savings Plan vs every filed plan by assets

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

$49,442,489 Top 15% higher than 85% 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

IBEW Local 56 Employees Deferred Savings 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. IBEW Local 56 Employees Deferred Savings Plan sits mid-pack in the medium band (298 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • IBEW Local 56 Employees Deferred Savings Plan reported net income rose from $318K in the plan year 2022 filing to $7M in the plan year 2023 filing.
  • IBEW Local 56 Employees Deferred Savings Plan end-of-year assets rose from $42M in the plan year 2022 filing to $49M in the plan year 2023 filing.
  • IBEW Local 56 Employees Deferred Savings Plan reported participants rose from 260 in the plan year 2022 filing to 298 in the plan year 2023 filing.

See the national 2022→2023 release diff →

Plan-year Form 5500 strip

Filing strip 251409929 · Board of Trustees IBEW Local 56 Employees Deferred Savings Plan PY 2023 · Profit Sharing

IBEW Local 56 Employees Deferred Savings Plan · $49M · 298 · 85th

  • IND $49M
  • EOY 298
  • 5500 85th
  • ASSETS Profit Sharing
  • PCT near Indiana Laborers Defined Contribution Trust Fund
  • EIN ind #7527

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 Pennsylvania →

IBEW Local 56 Employees Deferred Savings Plan in the asset neighbourhood

Pacific Realty Associates, L.P. Retirement Plan & TrustPacific Realty Associates, L…$49MIBEW Local 56 Employees Deferred Savings PlanIBEW Local 56 Employees Defe…$49MIndiana Laborers Defined Contribution Trust FundIndiana Laborers Defined Con…$49MBarnard College 403(b) Plan for Collective Bargaining EmployeesBarnard College 403(b) Plan …$49MGeorgia Crown Distributing Co. Retirement SavingsGeorgia Crown Distributing C…$49M
End-of-year total assets ($M) among IBEW Local 56 Employees Deferred Savings Plan and nearest nationwide Profit Sharing peers. Source: DOL Form 5500 plan year 2023.

Pennsylvania filing particulars

Total Assets (Beginning of Year)$42M
Net Assets (End of Year)$49M
Net Income$7M
Employer EIN251409929
Plan Effective Date1979-06-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Board of Trustees IBEW Local 56 Employees Deferred Savings Plan)

Sponsor-wide plan assets over time

All Board of Trustees IBEW Local 56 Employees Deferred Savings Plan plans reported in each filing year

Latest sponsor-wide plan assets
$54M 26.603108934878932% vs 2022
2024 filing year
$40M$45M$50M$55M 202220232024 $42.3M $53.5M ▲ +26.6%
Year Plans Participants Total Assets
2022 1 260 $42M
2023 1 298 $49M
2024 1 306 $54M

Nearby Profit Sharing Plans in Pennsylvania

Peer Profit Sharing plans, same state, same plan type, ranked by total assets.

IBEW Local 56 Employees Deferred Savings Plan vs. nearby Profit Sharing plans in Pennsylvania, assets vs. participants Scatter plot of 6 data points. -50000500010000150002000025000 -0.500.511.522.5 Total assets ($B) Participants IBEW Local 56 Employees Deferred Savings Plan, Total assets ($B): 0.049442489 · Participants: 298IBEW Local 56 Employees Deferred Savings PlanEastern Atlantic States Carpenters Annuity Fund, Total assets ($B): 2.13036391 · Participants: 17441Eastern Atlantic States Carpenters Annuity FundUniversity of Pennsylvania Basic Plan, Total assets ($B): 1.71732421 · Participants: 21016University of Pennsylvania Basic PlanInternational Brotherhood of Electrical Workers Local Union 98 - Profit Sharing Plan, Total assets ($B): 1.126483012 · Participants: 3905International Brotherhood of Electrical Workers Local Union 98 - Profit Sharing PlanTemple University Health System, Inc. Defined Contribution Retirement Plan, Total assets ($B): 0.763491384 · Participants: 10204Temple University Health System, Inc. Defined Contribution Retirement PlanMorgan, Lewis & Bockius LLP Defined Contribution Plan, Total assets ($B): 0.71403391 · Participants: 2458Morgan, Lewis & Bockius LLP Defined Contribution Plan
IBEW Local 56 Employees Deferred Savings Plan vs. nearby Profit Sharing plans in Pennsylvania, assets vs. participants
Compare IBEW Local 56 Employees Deferred Savings Plan side-by-side with 3 peers →

IBEW Local 56 Employees Deferred Savings Plan's out-of-state Profit Sharing peers by assets and headcount

Outside Pennsylvania, the nearest Profit Sharing by assets is Indiana Laborers Defined Contribution Trust Fund in IN ($49M); by covered participants it is Supermercado Econo Facundo, Inc. Retirement Plan in PR (298 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (298 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 IBEW Local 56 Employees Deferred Savings Plan assets move in 2023? ▼
IBEW Local 56 Employees Deferred Savings Plan grew sharply - up 17.0% during 2023, from $42M to $49M. Reported net income was $7M.
How have Board of Trustees IBEW Local 56 Employees Deferred Savings Plan plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Board of Trustees IBEW Local 56 Employees Deferred Savings Plan's sponsor-wide assets grew 26.6%, from $42M to $54M.
Where does IBEW Local 56 Employees Deferred Savings Plan rank by assets among Form 5500 filers? ▼
IBEW Local 56 Employees Deferred Savings Plan ranks in the 85th 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 Profit Sharing plans are similar in size to IBEW Local 56 Employees Deferred Savings Plan? ▼
Among Profit Sharing plans in other states, the closest by assets is Indiana Laborers Defined Contribution Trust Fund in IN ($49M, 15,349 participants).
Which Profit Sharing plans cover a similar participant headcount to IBEW Local 56 Employees Deferred Savings Plan? ▼
Among Profit Sharing plans in other states, the closest by covered participants is Supermercado Econo Facundo, Inc. Retirement Plan in PR (298 participants, $3M 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 251409929.

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.