Plan Snapshot
- Plan Sponsor: Board Of Trustees Local 338 Benefits Fund
- Sponsor EIN: 136313146
- Sponsor Address: 1505 KELLUM PLACE, MINEOLA, NY, 11501
- Plan Type: Health & Welfare
- Plan Number: 502
- Total Participants: 6,740
- Total Assets: $7.8M
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 | 6,740 | $7.8M | $1.9M | $11,555 |
| 2023 | 6,672 | $8.5M | $1.8M | $9,131 |
| 2022 | 6,644 | $9.3M | $1.9M | $5,465 |
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 |
|---|---|---|---|---|
| RWDSU/UFCW LOCAL 338 | Other Service Provider | $431,000 | — | $431,000 |
| LOCAL 338 HEALTH & WELFARE FUND | Recordkeeper | $370,000 | — | $370,000 |
| DDS SERVICES, INC. | Other Service Provider | $197,022 | — | $197,022 |
| FRIEDMAN & ANSPACH | Other Service Provider | $150,014 | — | $150,014 |
| FUSCO, BRANSTEIN & RADA | Other Service Provider | $67,788 | — | $67,788 |
| COMPREHENSIVE HEALTHCARE SYSTEMS | Other Service Provider | $51,098 | — | $51,098 |
| EMPLOYEE A | Recordkeeper | $47,020 | — | $47,020 |
| EMPLOYEE D | Recordkeeper | $46,305 | — | $46,305 |
| THE SEGAL COMPANY | Other Service Provider | $41,179 | — | $41,179 |
| NOVAK FRANCELLA, LLC | Auditor | $37,500 | — | $37,500 |
| EMPLOYEE C | Recordkeeper | $32,256 | — | $32,256 |
| EMPLOYEE B | Recordkeeper | $27,978 | — | $27,978 |
| ALVIN BLYER, ESQ. | Other Service Provider | $16,130 | — | $16,130 |
| REYNOLDS CONSULTING SERVICES | Other Service Provider | $10,500 | — | $10,500 |
| SUMMIT ACTUARIAL SERVICES, LLC | Other Service Provider | $7,000 | — | $7,000 |
| LUCENT CONSULTING | Other Service Provider | $5,400 | — | $5,400 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- LOCAL 338 HEALTH & WELFARE FUND — Recordkeeper
- EMPLOYEE A — Recordkeeper
- EMPLOYEE D — Recordkeeper
- NOVAK FRANCELLA, LLC — Auditor
- EMPLOYEE C — Recordkeeper
- EMPLOYEE B — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $1,538,190
- Estimated Expense Ratio: 19.688% 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 | $1,154,329 | $11,426 | — | $37,500 | — |
| 2023 | $1,175,596 | $12,013 | — | $37,500 | — |
| 2022 | $1,222,000 | $13,148 | — | — | $194,315 |