Board Of Trustees Of The Ibew Local No. 58 Annuity Fund 401(k) Plan: Login, Facts & Contact Information

Board Of Trustees Of The Ibew Local No. 58 Annuity Fund 401(k) Plan Facts

Plan name
IBEW LOCAL NO. 58 ANNUITY FUND
Plan type
401(k) and profit sharing
Plan sponsor
BOARD OF TRUSTEES OF THE IBEW LOCAL NO. 58 ANNUITY FUND
Participants
5,874 (5,719 active employees)
Former employees with a balance
335
Plan assets
$699,341,447 at Dec 31, 2022
Average account balance
$111,201 across 6,289 accounts
Employer contributions
$27,432,221 in plan year 2022 (62% of all contributions)
Recordkeeper
Empower Annuity Insurance Company
Plan year
Jan 1, 2022 – Dec 31, 2022
Plan established
Jun 3, 1987
— Employer contributions— Automatic enrollment✓ Default investment for undecided participants✓ Participants choose their own investments— Self-directed brokerage window✓ Profit sharing— Company stock (ESOP)

Source: Form 5500 for plan year 2022 (Jan 1, 2022 – Dec 31, 2022), filed Dec 27, 2023. Public filing with the U.S. Department of Labor.

Money in and out in plan year 2022

  • $44.0 million went into the plan in contributions, $27.4 million of it from the employer (62%).
  • $32.6 million was paid out to participants.
  • Administrative expenses were $1.25 million, about $199 per account.

How the Board Of Trustees Of The Ibew Local No. 58 Annuity Fund 401(k) changed, 2017–2022

Plan yearParticipantsPlan assetsEmployer contributionsBenefits paid
20175,224$562.8 million$17.0 million$20.0 million
20185,524$530.0 million$16.1 million$22.9 million
20195,597$621.2 million$15.8 million$31.6 million
20205,477$700.2 million$19.1 million$25.5 million
20215,426$795.6 million$24.7 million$36.7 million
20225,874$699.3 million$27.4 million$32.6 million

Board Of Trustees Of The Ibew Local No. 58 Annuity Fund 401(k) Contact Information

Phone
586-575-9200
Mailing address
PO BOX 71337, MADISON HEIGHTS MI 480710337
Plan sponsor
BOARD OF TRUSTEES OF THE IBEW LOCAL NO. 58 ANNUITY FUND
Employer identification number (EIN)
38-2749515
Plan number
001

Questions about the Board Of Trustees Of The Ibew Local No. 58 Annuity Fund 401(k)

Does Board Of Trustees Of The Ibew Local No. 58 Annuity Fund contribute to the 401(k)?

The plan does not report an employer matching arrangement on its Form 5500. It did report $27.4 million in employer contributions for plan year 2022.

Does the Board Of Trustees Of The Ibew Local No. 58 Annuity Fund 401(k) have automatic enrollment?

No. The plan does not report automatic enrollment; employees enroll themselves.

How many people are in the Board Of Trustees Of The Ibew Local No. 58 Annuity Fund 401(k) plan?

5,874 participants at the start of plan year 2022, 5,719 of them active employees, and 335 former employees who still had money in the plan.

What is the average 401(k) balance at Board Of Trustees Of The Ibew Local No. 58 Annuity Fund?

About $111,201 per account: $699.3 million in plan assets across 6,289 accounts with a balance at the end of plan year 2022.

Who manages the Board Of Trustees Of The Ibew Local No. 58 Annuity Fund 401(k) accounts?

Empower (listed on the filing as EMPOWER ANNUITY INSURANCE COMPANY) is the plan's recordkeeper, which is where participants log in to see their balance.

I no longer work at Board Of Trustees Of The Ibew Local No. 58 Annuity Fund. How do I access my 401(k)?

Your account stays with Empower after you leave, so you can log in with the same credentials. If your balance was small, the plan may have rolled it into an IRA in your name. If you can't find it, Beagle can locate it for you.

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