IBEW Local No. 246 Pension Plan

Other · DOL Form 5500 · 2023

What the Filing Says About IBEW Local No. 246 Pension Plan

IBEW Local No. 246 Pension Plan is an Other retirement plan sponsored by I.B.E.W. Local No. 246 Pension Fund Board of Trustees, headquartered in Ohio. According to the U.S. Department of Labor's 2023 Form 5500 filing, the plan reports $48M in total end-of-year assets and covers 156 participants across the Construction industry. The sponsor's EIN on file with the U.S. Department of Labor is 346582842, and the plan has been effective since 1967-05-01. Its filing status is currently FILING RECEIVED.

Year over year, total assets grew at a solid clip from $44M at the beginning of 2023 to $48M at year-end - up 8.9%. Net assets (after liabilities) closed the year at $48M, with reported net income of $4M driven by investment returns, contributions received, and benefit payments during the period. These figures reflect what the plan administrator certified on Schedule H or Schedule I of the Form 5500 annual return and can be compared against 1 prior plan-year filing from the same sponsor shown below.

Across the 2 plan years I.B.E.W. Local No. 246 Pension Fund Board of Trustees has on file with PlainRetire (2022-2023), sponsor-wide plan assets have moved from $44M to $48M, a gain of 8.9%, while reported participants moved from 181 to 156 (-13.8%). Year-by-year, sponsor-wide filings show: 2022 - $44M in assets across 1 plan covering 181 participants; 2023 - $48M in assets across 1 plan covering 156 participants.

By assets, IBEW Local No. 246 Pension Plan outranks 85% of the 126,618 plans that filed a Form 5500 for the 2023 plan year, and holds roughly 0.5x the national average plan size of $100M and 730 average participants.

Asset totals and participant counts reflect a single plan year snapshot and can change materially with market conditions, plan mergers, or workforce changes. Fields such as "net income" include both realized investment performance and contribution/distribution flows, a single-year figure does not by itself indicate plan health or participant outcomes. This page summarizes public DOL disclosures for research and educational purposes only and is not retirement, tax, legal, or financial advice. Before making decisions about your own retirement benefits or evaluating an employer's plan, verify the underlying filing directly via the DOL EFAST2 system and consult a qualified professional.

How the percentile is calculated: we count every plan that filed a 2023 Form 5500 with a reported end-of-year asset figure (126,618 plans), rank IBEW Local No. 246 Pension Plan against all of them by total assets, and report the share of those plans it outranks. A plan reporting no asset figure for the year is excluded from the ranking rather than assumed to be zero.