Plan Snapshot
- Plan Sponsor: Bd Of Trustees Ufcw Local 342 Safety, Education,
- Sponsor EIN: 112447683
- Sponsor Address: 1461 LAKELAND AVE. SUITE 1, BOHEMIA, NY, 11716
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 6,817
- Total Assets: $3.8M
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 | 6,817 | $3.8M | $2.6M | $0 |
| 2023 | 6,583 | $3.8M | $2.6M | $0 |
| 2022 | 5,783 | $3.8M | $2.3M | $0 |
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 |
|---|---|---|---|---|
| LOCAL 342 WELFARE FUND | Other Service Provider | $1,258,000 | — | $1,258,000 |
| UFCW LOCAL 342 GROUP LEGAL FUND | Other Service Provider | $869,984 | — | $869,984 |
| UFCW LOCAL 342 UNION | Other Service Provider | $261,000 | — | $261,000 |
| NOVAK FRANCELLA LLC | Auditor | $21,329 | — | $21,329 |
| EMMIDIO UNGARO | Other Service Provider | $21,314 | — | $21,314 |
| JOCAR ELITE PROFESSIONALS, LLC | Other Service Provider | $21,314 | — | $21,314 |
| SOLARUS TECHNOLOGIES | Other Service Provider | $20,405 | — | $20,405 |
| PROSKAUER ROSE LLP | Other Service Provider | $13,215 | — | $13,215 |
| SIMON & MILNER | Other Service Provider | $10,000 | — | $10,000 |
| NAKIESHA SMITH | Other Service Provider | $6,644 | — | $6,644 |
| COUNSEL ADVISORS INC | Other Service Provider | $5,948 | — | $5,948 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- NOVAK FRANCELLA LLC — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $2,509,153
- Estimated Expense Ratio: 66.889% 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 | $1,275,630 | $3,492 | — | $19,572 | — |
| 2023 | $1,116,565 | $3,517 | — | $17,715 | — |
| 2022 | $730,731 | — | — | — | $41,012 |