Plan Snapshot
- Plan Sponsor: Board Of Trustees Of Local 1 Welfare Fund No. 1
- Sponsor EIN: 340820618
- Sponsor Address: 812 HURON ROAD, SUITE 230, CLEVELAND, OH, 44115
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 584
- Total Assets: $10.7M
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 | 584 | $10.7M | $2.3M | $5,991 |
| 2023 | 549 | $10.0M | $2.2M | $3,984 |
| 2022 | 568 | $9.0M | $2.2M | $196 |
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 |
|---|---|---|---|---|
| DONALD J. LOWE ASSOCIATES, INC. | Other Service Provider | $145,034 | — | $145,034 |
| ALLOTA FARLEY CO., LPA | Other Service Provider | $29,960 | — | $29,960 |
| CIUNI & PANICHI, INC. | Other Service Provider | $23,495 | — | $23,495 |
| ANDCO CONSULTING | Other Service Provider | $23,382 | — | $23,382 |
| CUNI, RUST AND STRENK | Other Service Provider | $11,000 | — | $11,000 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $232,871
- Estimated Expense Ratio: 2.173% 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 | $431,107 | $25,297 | $145,034 | $23,495 | — |
| 2023 | $317,343 | $19,077 | $140,810 | $30,375 | — |
| 2022 | $288,334 | $15,751 | $136,712 | — | $43,599 |