Plan Snapshot
- Plan Sponsor: Bay Metals & Fabrication, LLC
- Sponsor EIN: 261489922
- Sponsor Address: 624 OBENDORFER ROAD, CHESAPEAKE, VA, 23324
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 90
- Total Assets: $296,611
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 | 90 | $296,611 | $493,301 | $722,689 |
| 2023 | 94 | $65,057 | $862,213 | $369,236 |
| 2022 | 87 | $63,661 | $713,891 | $312,894 |
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 |
|---|---|---|---|---|
| MERITAIN HEALTH, AN AETNA COMPANY | Other Service Provider | $38,840 | — | $38,840 |
| TRION GROUP, A MARSH & MCLENNAN AGE | Investment Advisor | $31,020 | — | $31,020 |
| THE BENECON GROUP, LLC | Investment Advisor | $20,342 | — | $20,342 |
| CONNECTCARE3 | Other Service Provider | $5,064 | — | $5,064 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- TRION GROUP, A MARSH & MCLENNAN AGE — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $95,266
- Estimated Expense Ratio: 32.118% 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 | $975,277 | — | — | — | — |
| 2023 | $1,233,471 | — | — | — | — |
| 2022 | $1,003,056 | — | — | — | — |