Plan Snapshot
- Plan Sponsor: Board Of Trustees H.F.I.A.W. Local No. 32 - Welfare Fund
- Sponsor EIN: 237159212
- Sponsor Address: 36 HOPATCHUNG ROAD, HOPATCONG, NJ, 07843
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 181
- Total Assets: $4.9M
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 | 181 | $4.9M | $7.8M | $337,421 |
| 2023 | 186 | $5.7M | $7.6M | $358,960 |
| 2022 | 183 | $5.7M | $7.1M | $291,363 |
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 |
|---|---|---|---|---|
| BASIL CASTROVINCI ASSOCIATES | Other Service Provider | $174,540 | — | $174,540 |
| UMR - UNITED HEALTH CARE | Other Service Provider | $125,222 | — | $125,222 |
| PAYER MATRIX | Other Service Provider | $63,612 | — | $63,612 |
| METS SCHIRO AND MCGOVERN | ERISA Attorney | $40,109 | — | $40,109 |
| LABOR FIRST LLC | Other Service Provider | $35,408 | — | $35,408 |
| MSPC, CPA'S AND ADVISORS, P.C. | Auditor | $23,612 | — | $23,612 |
| MD SASS | Other Service Provider | $15,078 | — | $15,078 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- MSPC, CPA'S AND ADVISORS, P.C. — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $477,581
- Estimated Expense Ratio: 9.777% 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 | $501,989 | $17,578 | $367,711 | $23,612 | — |
| 2023 | $528,500 | $25,017 | $381,091 | $25,275 | — |
| 2022 | $479,949 | $24,993 | $135,740 | — | $98,743 |