Profit Sharing · DOL Form 5500 · 2023

Board of Trustees IBEW Local No 32 NECA Psap Profit Sharing Plan

Data updated 2026-08-11

$42M
Total assets: 473
Participants: 84th
Percentile by assets: $88,731
Avg per participant

Official DOL plan name: IBEW Local No. 32 NECA Profit Sharing Annuity Plan · Sponsored by Board of Trustees IBEW Local No 32 NECA Psap · Michigan · Construction

$42M in assets, 473 participants

Board of Trustees IBEW Local No 32 NECA Psap's IBEW Local No. 32 NECA Profit Sharing Annuity Plan reported $42M in total assets and 473 participants in its 2023 DOL Form 5500 filing, ranking in the 84th 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.

84th percentile by assets (of 127,072 plans)
#7,370 in Construction (9,030 peers)

Where IBEW Local No. 32 NECA Profit Sharing Annuity Plan sits by assets

IBEW Local No. 32 NECA Profit Sharing Annuity Plan sits in the top quartile of all filed plans by assets, $42M for 473 participants (~$88,731/participant), up 14.4% in 2023.

$42M
total plan assets (2023 EOY): 473
covered participants: 84th
percentile by assets (of 127,072 plans): $88,731
avg assets per participant

IBEW Local No. 32 NECA Profit Sharing Annuity Plan reported net income rose from -$1M in the plan year 2022 filing to $6M in the plan year 2023 filing.
IBEW Local No. 32 NECA Profit Sharing Annuity Plan end-of-year assets rose from $37M in the plan year 2022 filing to $42M in the plan year 2023 filing.

See the national 2022→2023 release diff →

State

Michigan

Industry

Construction

IBEW Local No. 32 NECA Profit Sharing Annuity Plan vs the 2023 asset distribution

By assets, IBEW Local No. 32 NECA Profit Sharing Annuity Plan outranks 84% of the 127,072 plans that filed a Form 5500 for the 2023 plan year, and holds roughly 0.4x the national average plan size of $100M (721 average participants).

Scale-class filing particulars (2023)

Total Assets (Beginning of Year)	$37M
Net Assets (End of Year)	$42M
Net Income	$6M
Employer EIN	621122985
Plan Effective Date	1980-06-01
Filing Status	FILING RECEIVED

Sponsor Plan History (Board of Trustees IBEW Local No 32 NECA Psap)

Total plan assets by year, all Board of Trustees IBEW Local No 32 NECA Psap plans on file

Year	Plans	Participants	Total Assets
2022	1	473	$37M
2023	1	473	$42M
2024	1	322	$45M

Nearby Profit Sharing Plans in Michigan

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

IBEW Local No. 32 NECA Profit Sharing Annuity Plan vs. nearby Profit Sharing plans in Michigan, assets vs. participants

Henry Ford Health System Retirement Savings Plan $1.7B · 14,349
Construction Industry Retirement Fund of Rockford $564M · 10,685
Ohio Carpenters' Annuity Plan $410M · 9,314
Hemlock Semiconductor Operations LLC Employees' Capital Accumulation Plan $288M · 1,404
NECA-IBEW Memphis Retirement Plan $213M · 2,389

Compare IBEW Local No. 32 NECA Profit Sharing An… side-by-side with 3 peers →

Similar-Sized Profit Sharing Plans Nationally

Profit Sharing plans in other states closest to IBEW Local No. 32 NECA Profit Sharing Annuity Plan by total assets, not by location.

Pioneer Human Services 403(b) Plan (WA) $42M · 756
Wayne Unc 401(a) Plan (NC) $42M · 1,379
Derrickmens Annuity Fund, Local 197 (NY) $42M · 170
Ironworkers Local 808 Annuity Fund (TN) $42M · 637

Frequently Asked Questions

How did IBEW Local No. 32 NECA Profit Sharing Annuity Plan assets move in 2023? ▼

IBEW Local No. 32 NECA Profit Sharing Annuity Plan grew at a solid clip - up 14.4% during 2023, from $37M to $42M. Reported net income was $6M.

How have Board of Trustees IBEW Local No 32 NECA Psap plan assets changed over time? ▼

Across 3 plan years on file (2022-2024), Board of Trustees IBEW Local No 32 NECA Psap's sponsor-wide assets grew 21.4%, from $37M to $45M.

Where does IBEW Local No. 32 NECA Profit Sharing Annuity Plan rank by assets among Form 5500 filers? ▼

IBEW Local No. 32 NECA Profit Sharing Annuity Plan ranks in the 84th 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 No. 32 NECA Profit Sharing Annuity Plan? ▼

Among Profit Sharing plans in other states, the closest by assets is Pioneer Human Services 403(b) Plan in WA ($42M, 756 participants).

Next read for IBEW Local No. 32 NECA Profit Sharing An…

Scale reading

Ways to act on IBEW Local No. 32 NECA Profit Sharing Annuity Plan's numbers.

By total assets, IBEW Local No. 32 NECA Profit Sharing Annuity Plan ranks in the top quartile of all filed plans by assets. See the largest plans
Compare it side-by-side against 3 similar Profit Sharing plans in Michigan. Compare plans
Board of Trustees IBEW Local No 32 NECA Psap's sponsor-wide assets have grown 21.4% 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 621122985.