Plan Snapshot
- Plan Sponsor: Board Of Trustees Of I.B. Of T. Welfare Fund - 945
- Sponsor EIN: 221644608
- Sponsor Address: 585 HAMBURG TURNPIKE, WAYNE, NJ, 07470
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 2,130
- Total Assets: $24.6M
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 | 2,130 | $24.6M | $37.0M | $76,179 |
| 2023 | 2,030 | $28.3M | $34.2M | $93,743 |
| 2022 | 1,678 | $26.2M | $29.6M | $122,468 |
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 |
|---|---|---|---|---|
| AETNA LIFE INSURANCE COMPANY | Other Service Provider | $1,277,571 | — | $1,277,571 |
| PAYER MATRIX, LLC | Other Service Provider | $165,469 | $285,562 | $451,031 |
| EMPIRX HEALTH | Other Service Provider | $337,271 | — | $337,271 |
| DAVID BAUMAN | Other Service Provider | $105,840 | — | $105,840 |
| INNOVATIVE SOFTWARE SOLUTIONS, INC. | Other Service Provider | $56,132 | — | $56,132 |
| MSPC | Auditor | $55,319 | — | $55,319 |
| LYNN THOMSON | Other Service Provider | $55,300 | — | $55,300 |
| JENNIFER CHERMAK | Other Service Provider | $48,184 | — | $48,184 |
| MB CONNAUGHTON ESQS., LLC | Other Service Provider | $45,446 | — | $45,446 |
| ANTONIO PETILLO | Other Service Provider | $33,476 | — | $33,476 |
| O'SULLIVAN ASSOCIATES, INC. | Other Service Provider | $24,225 | — | $24,225 |
| ATALANTA SOSNOFF CAPITAL, LLC | Other Service Provider | $23,479 | — | $23,479 |
| AMALGAMATED BANK OF CHICAGO | Other Service Provider | $20,812 | — | $20,812 |
| DEALY & SILBERSTEIN, LLP | Other Service Provider | $15,689 | — | $15,689 |
| AMERICAN REALTY ADVISORS | Other Service Provider | $11,370 | — | $11,370 |
| NATIONAL VISION ADMINISTRATORS, LLC | Other Service Provider | $8,205 | — | $8,205 |
| RBC WEALTH MANAGEMENT | Other Service Provider | $5,250 | — | $5,250 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- MSPC — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $2,574,600
- Estimated Expense Ratio: 10.461% 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 | $2,663,019 | $62,660 | — | $29,000 | — |
| 2023 | $2,545,050 | $84,252 | — | $35,294 | — |
| 2022 | $2,212,643 | $58,665 | — | — | $155,758 |