# Bac Local #5, New York Welfare Fund Health & Welfare Plan
Source: https://planprovider.pro/companies/bac-local-5-new-york-welfare-fund-146022899-501

> Bac Local #5, New York Welfare Fund's Health & Welfare plan: 84 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Bac Local #5, New York Welfare Fund

- **Sponsor EIN:** 146022899

- **Sponsor Address:** 66-05 WOODHAVEN BLVD, REGO PARK, NY, 11374

- **Plan Type:** Health & Welfare

- **Plan Number:** 501

- **Total Participants:** 84

- **Total Assets:** $10.3M

## Key Plan Design Features

- **Auto-Enrollment:** No

- **Auto-Escalation:** No

- **Allows Roth Contributions:** No

- **Participant Loans:** No

- **Participant-Directed Investments:** No

- **ERISA Section 404(c) Fiduciary Safe Harbor:** No

## Plan Financials by Year

| Year|Participants|Total Assets|Employer Contrib.|Employee Contrib.|

| 2024|84|$10.3M|$2.1M|$317,037|

| 2023|91|$10.2M|$2.2M|$298,329|

| 2022|96|$9.6M|$2.4M|$318,353|

## Service Providers (Schedule C)

Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).

| Provider Name|
Role|
Direct Compensation|
Indirect Compensation|
Total Fees|

| MVP HEALTH CARE|Other Service Provider|$96,376|—|$96,376|

| MILLIMAN, INC|Recordkeeper|$52,500|—|$52,500|

| PENSION AND ANNUITY PLAN OF BRICKLA|Other Service Provider|$48,383|—|$48,383|

| TEAL, BECKER, & CHIARAMONTE CPAS PC|Other Service Provider|$41,075|—|$41,075|

| MERRILL LYNCH, PIERCE, FENNER & SM|Other Service Provider|$18,086|—|$18,086|

| SCHULTHEIS & PANETTIERI LLP|Auditor|$15,728|—|$15,728|

| PIMCO|Other Service Provider|$14,461|—|$14,461|

| BARNES, IACCARINO & SHEPHERD, LLP|Other Service Provider|$9,384|—|$9,384|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [MILLIMAN, INC](https://planprovider.pro/provider/milliman) — Recordkeeper

- [SCHULTHEIS & PANETTIERI LLP](https://planprovider.pro/provider/schultheis-and-panettieri-llp) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $295,993

- **Estimated Expense Ratio:** 2.876% of plan assets

### Historical Administrative Expenses

Breakdown of administrative expense categories reported on Form 5500 filings.

| Year|
Total Admin Expenses|
Investment Mgmt Fees|
Contract Admin Fees|
IQPA Audit Fees|
Professional Fees|

| 2024|$327,915|$32,317|$154,122|$41,075|—|

| 2023|$346,623|$46,779|—|$40,598|—|

| 2022|$366,168|$30,062|$186,131|—|$105,838|

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