Defined Benefit (Pension) · DOL Form 5500 · 2024

Board of Trustees Local 351 Pension Fund Pension Plan

Data updated 2026-08-06

$542M
Total assets: 1,603
Participants: 97th
Percentile by assets: $338,216
Avg per participant

Official DOL plan name: Local 351 IBEW Pension Plan · Sponsored by Board of Trustees Local 351 Pension Fund · New Jersey · Construction

$542M in assets, 1,603 participants

Board of Trustees Local 351 Pension Fund's Local 351 IBEW Pension Plan reported $542M in total assets and 1,603 participants in its 2024 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 116,472 plans)

Where Local 351 IBEW Pension Plan sits by assets

Local 351 IBEW Pension Plan sits in the top 5% of all filed plans by assets, $542M for 1,603 participants (~$338,216/participant), up 7.7% in 2024.

$542M
total plan assets (2024 EOY): 1,603
covered participants: 97th
percentile by assets (of 116,472 plans): $338,216
avg assets per participant

Local 351 IBEW Pension Plan reported net income fell from $53M in the plan year 2023 filing to $39M in the plan year 2024 filing.
Local 351 IBEW Pension Plan reported participants fell from 2,003 in the plan year 2023 filing to 1,603 in the plan year 2024 filing.
Local 351 IBEW Pension Plan end-of-year assets rose from $503M in the plan year 2023 filing to $542M in the plan year 2024 filing.

See the national 2023→2024 release diff →

State

New Jersey

Industry

Construction

Local 351 IBEW Pension Plan vs the 2024 asset distribution

By assets, Local 351 IBEW Pension Plan outranks 97% of the 116,472 plans that filed a Form 5500 for the 2024 plan year, and holds roughly 5.4x the national average plan size of $100M (730 average participants).

Scale-class filing particulars (2024)

Total Assets (Beginning of Year)	$503M
Net Assets (End of Year)	$541M
Net Income	$39M
Employer EIN	223417366
Plan Effective Date	1995-10-01
Filing Status	FILING RECEIVED

Sponsor Plan History (Board of Trustees Local 351 Pension Fund)

Total plan assets by year, all Board of Trustees Local 351 Pension Fund plans on file

Year	Plans	Participants	Total Assets
2022	1	2,011	$450M
2023	1	2,003	$503M
2024	1	1,603	$542M

Nearby Defined Benefit (Pension) Plans in New Jersey

Peer Defined Benefit (Pension) plans, same state, same plan type, ranked by total assets.

Local 351 IBEW Pension Plan vs. nearby Defined Benefit (Pension) plans in New Jersey, assets vs. participants

Retirement Plan of Johnson and Johnson $21.1B · 37,882
JPMorgan Chase Retirement Plan $16.1B · 83,812
Nokia Retirement Income Plan $12.9B · 7,280
The Prudential Merged Retirement Plan $12.0B · 16,233
Merck US Pension Plan $10.1B · 26,843

Compare Local 351 IBEW Pension Plan side-by-side with 3 peers →

Similar-Sized Defined Benefit (Pension) Plans Nationally

Defined Benefit (Pension) plans in other states closest to Local 351 IBEW Pension Plan by total assets, not by location.

Pension Fund of Cement Masons Union Local No. 502 (IL) $541M · 1,243
Tenth Amended & Restated Owens-Illinois Hourly Retirement Plan (OH) $544M · 2,122
Michigan Electrical Employees' Pension Plan (MI) $545M · 2,102
Arconic Corp. Pension Plan a (PA) $539M · 439

Frequently Asked Questions

How did Local 351 IBEW Pension Plan assets move in 2024? ▼

Local 351 IBEW Pension Plan grew at a solid clip - up 7.7% during 2024, from $503M to $542M. Reported net income was $39M.

How have Board of Trustees Local 351 Pension Fund plan assets changed over time? ▼

Across 3 plan years on file (2022-2024), Board of Trustees Local 351 Pension Fund's sponsor-wide assets grew 20.4%, from $450M to $542M.

Where does Local 351 IBEW Pension Plan rank by assets among Form 5500 filers? ▼

Local 351 IBEW Pension Plan ranks in the 97th percentile by end-of-year assets among 116,472 plans that reported assets for plan year 2024 (in the top 5% of all filed plans by assets).

Which Defined Benefit (Pension) plans are similar in size to Local 351 IBEW Pension Plan? ▼

Among Defined Benefit (Pension) plans in other states, the closest by assets is Pension Fund of Cement Masons Union Local No. 502 in IL ($541M, 1,243 participants).

Next read for Local 351 IBEW Pension Plan

Scale reading

Ways to act on Local 351 IBEW Pension Plan's numbers.

By total assets, Local 351 IBEW Pension Plan ranks in the top 5% of all filed plans by assets. See the largest plans
Compare it side-by-side against 3 similar Defined Benefit (Pension) plans in New Jersey. Compare plans
Board of Trustees Local 351 Pension Fund's sponsor-wide assets have grown 20.4% 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 2024.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 223417366.

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.