Profit Sharing · DOL Form 5500 · 2024
Board of Trustees IBEW Local 56 Employees Deferred Savings Plan Profit Sharing Plan
Data updated 2026-08-25
- $54M
- Total assets Below avg plan size
- 306
- Participants Below avg headcount
- 85th
- Percentile by assets National rank
- $174,899
- Avg per participant Above avg balance/head
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
$54M in assets, 306 participants
Board of Trustees IBEW Local 56 Employees Deferred Savings Plan's IBEW Local 56 Employees Deferred Savings Plan reported $54M in total assets and 306 participants in its 2024 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.
- #7,506 in Construction (9,039 peers)
Coverage in Pennsylvania
IBEW Local 56 Employees Deferred Savings Plan covers 306 participants in Pennsylvania, about 37% of the average Pennsylvania filer (state average ~822 per filing). Assets: $54M.
- #7,506
- in Construction (9,039 peers)
- +8.2%
- 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 2024 · DOL Form 5500
$53,519,012 Top 15% higher than 85% of 123,620 filed plans
Dashed line + filled bar = this entry, among filed plans.
Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2024
IBEW Local 56 Employees Deferred Savings Plan among mid-size filed plans by headcount
Plan-year 2024 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 (306 participants).
What changed between DOL Form 5500 filings
plan year 2023 → plan year 2024
- IBEW Local 56 Employees Deferred Savings Plan reported net income fell from $7M in the plan year 2023 filing to $4M in the plan year 2024 filing.
- IBEW Local 56 Employees Deferred Savings Plan end-of-year assets rose from $49M in the plan year 2023 filing to $54M in the plan year 2024 filing.
- IBEW Local 56 Employees Deferred Savings Plan reported participants rose from 298 in the plan year 2023 filing to 306 in the plan year 2024 filing.
Plan-year Form 5500 strip
Filing strip 251409929 · Board of Trustees IBEW Local 56 Employees Deferred Savings Plan PY 2024 · Profit Sharing
IBEW Local 56 Employees Deferred Savings Plan · $54M · 306 · 85th
- EBSA $54M
- PART 306
- TYPE 85th
- NET Profit Sharing
- BOOK near NECA-IBEW 1205 Pension Fund
- VS-ST ind #7506
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
Pennsylvania filing particulars
| Total Assets (Beginning of Year) | $49M |
|---|---|
| Net Assets (End of Year) | $53M |
| Net Income | $4M |
| Employer EIN | 251409929 |
| Plan Effective Date | 1979-06-01 |
| Filing Status | FILING 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
| 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.
- Eastern Atlantic States Carpenters Annuity Fund $2.2B · 14,807
- University of Pennsylvania Basic Plan $2.0B · 21,954
- International Brotherhood of Electrical Workers Local Union 98 - Profit Sharing Plan $1.3B · 3,927
- Temple University Health System, Inc. Defined Contribution Retirement Plan $876M · 10,394
- Morgan, Lewis & Bockius LLP Defined Contribution Plan $781M · 2,477
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 NECA-IBEW 1205 Pension Fund in FL ($54M); by covered participants it is Jrack Holdings, Inc. Profit Sharing Plan in IL (306 participants). Same-state nearby plans are listed separately above.
Closest by plan assets
Nearest other-state filings by tot_assets_eoy ($54M here).
- NECA-IBEW 1205 Pension Fund (FL) $54M · 757
- Hp Inc. Puerto Rico Tax Savings Capital Accumulation Plan (TX) $53M · 25
- Regional District Council Retirement Plan (OR) $54M · N/A
- Annual Reviews 403(b) DC Plan (CA) $53M · 95
Similar participant headcount
Nearest other-state filings by covered participants (306 participants); asset peers above are excluded.
- Jrack Holdings, Inc. Profit Sharing Plan (IL) 306 · 0 off
- Orleans Community Health Pension Plan (NY) 306 · 0 off
- Worcester Plumbers and Pipefitters Local Union #4 Annuity Plan (CT) 307 · 1 off
- Ahepa Management Company, Inc. 403(b) Plan (IN) 305 · 1 off
DOL Form 5500 plan year 2024. Asset totals can differ widely at the same headcount; neither axis is a quality rating.