401(k) · DOL Form 5500 · 2023

IBEW Local No. 347 & Iowa Chapter of NECA, Joint Board of Trustees 401(k) Plan

Data updated 2026-08-11

$395M
Total assets: 2,865
Participants: 97th
Percentile by assets: $137,719
Avg per participant

Official DOL plan name: IBEW Local 347 Retirement and 401(k) Plan · Sponsored by IBEW Local No. 347 & Iowa Chapter of NECA, Joint Board of Trustees · Michigan · Construction

$395M in assets, 2,865 participants

IBEW Local No. 347 & Iowa Chapter of NECA, Joint Board of Trustees's IBEW Local 347 Retirement and 401(k) Plan reported $395M in total assets and 2,865 participants in its 2023 DOL Form 5500 filing, ranking in the 97th 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.

97th percentile by assets (of 127,072 plans)
#8,704 in Construction (9,030 peers)

Coverage in Michigan

IBEW Local 347 Retirement and 401(k) Plan covers 2,865 participants in Michigan, 4.5x the typical Michigan plan (state average ~638 per filing). Assets: $395M.

$395M
total plan assets (2023 EOY): 2,865
covered participants: 97th
percentile by assets (of 127,072 plans): $137,719
avg assets per participant

IBEW Local 347 Retirement and 401(k) Plan reported net income rose from $6M in the plan year 2022 filing to $64M in the plan year 2023 filing.
IBEW Local 347 Retirement and 401(k) Plan end-of-year assets rose from $330M in the plan year 2022 filing to $395M in the plan year 2023 filing.
IBEW Local 347 Retirement and 401(k) Plan reported participants rose from 2,727 in the plan year 2022 filing to 2,865 in the plan year 2023 filing.

See the national 2022→2023 release diff →

State

Michigan

Industry

Construction

Participants vs Michigan filers

In Michigan, the average filing covers about 638 participants across 4,220 plans. IBEW Local 347 Retirement and 401(k) Plan reports 2,865 participants - 4.5x that state average ($395M EOY assets).

Michigan filing particulars

Total Assets (Beginning of Year)	$330M
Net Assets (End of Year)	$394M
Net Income	$64M
Employer EIN	454356227
Plan Effective Date	1974-05-01
Filing Status	FILING RECEIVED

Sponsor Plan History (IBEW Local No. 347 & Iowa Chapter of NECA, Joint Board of Trustees)

Total plan assets by year, all IBEW Local No. 347 & Iowa Chapter of NECA, Joint Board of Trustees plans on file

Year	Plans	Participants	Total Assets
2022	1	2,727	$330M
2023	1	2,865	$395M
2024	1	3,268	$432M

Nearby 401(k) Plans in Michigan

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

IBEW Local 347 Retirement and 401(k) Plan vs. nearby 401(k) plans in Michigan, assets vs. participants

General Motors Retirement Savings Plan for Salaried Employees in the United States $20.4B · 47,299
Ford Motor Co. Savings and Stock Investment Plan for Salaried Employees $15.6B · 30,516
The Dow Chemical Company Employees' Savings Plan $10.1B · 18,088
The General Motors Personal Savings Plan for Hourly-Rate Employees in the United States $8.6B · 40,393
Ford Motor Co. Tax-Efficient Savings Plan for Hourly Employees $7.6B · 59,195

Compare IBEW Local 347 Retirement and 401(k) Pla… side-by-side with 3 peers →

Similar-Sized 401(k) Plans Nationally

401(k) plans in other states closest to IBEW Local 347 Retirement and 401(k) Plan by total assets, not by location.

R&l Carriers, Inc. 401(k) Retirement Savings Plan (OH) $395M · 17,891
Kimball International, Inc. Retirement Plan (IN) $395M · 2,020
Everest Reinsurance Employee Savings Plan (NJ) $395M · 1,819
Fairview Health Services 403b Plan for Mna Employees (MN) $394M · 3,816

Frequently Asked Questions

How did IBEW Local 347 Retirement and 401(k) Plan assets move in 2023? ▼

IBEW Local 347 Retirement and 401(k) Plan grew sharply - up 19.5% during 2023, from $330M to $395M. Reported net income was $64M.

How have IBEW Local No. 347 & Iowa Chapter of NECA, Joint Board of Trustees plan assets changed over time? ▼

Across 3 plan years on file (2022-2024), IBEW Local No. 347 & Iowa Chapter of NECA, Joint Board of Trustees's sponsor-wide assets grew 30.7%, from $330M to $432M.

Where does IBEW Local 347 Retirement and 401(k) Plan rank by assets among Form 5500 filers? ▼

IBEW Local 347 Retirement and 401(k) Plan ranks in the 97th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top 5% of all filed plans by assets).

Which 401(k) plans are similar in size to IBEW Local 347 Retirement and 401(k) Plan? ▼

Among 401(k) plans in other states, the closest by assets is R&l Carriers, Inc. 401(k) Retirement Savings Plan in OH ($395M, 17,891 participants).

Next read for IBEW Local 347 Retirement and 401(k) Pla…

Filing takeaways

Ways to act on IBEW Local 347 Retirement and 401(k) Plan's numbers.

By total assets, IBEW Local 347 Retirement and 401(k) Plan ranks in the top 5% of all filed plans by assets. See the largest plans
Compare it side-by-side against 3 similar 401(k) plans in Michigan. Compare plans
IBEW Local No. 347 & Iowa Chapter of NECA, Joint Board of Trustees's sponsor-wide assets have grown 30.7% since 2022 across 3 plan years on file. More Construction plans

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 454356227.