Plan Snapshot
- Plan Sponsor: Board Of Trustees Of Local 298 Health Benefit Fund 1
- Sponsor EIN: 111967404
- Sponsor Address: 201 WEST VALLEY STREAM BLVD, VALLEY STREAM, NY, 115805538
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 2,172
- Total Assets: $23.3M
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 | 2,172 | $23.3M | $47.9M | $362,882 |
| 2023 | 3,177 | $23.1M | $40.2M | $251,836 |
| 2022 | 2,000 | $19.4M | $26.1M | $126,192 |
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 |
|---|---|---|---|---|
| ANTHEM BLUE CROSS | Other Service Provider | $1,115,264 | — | $1,115,264 |
| DICKINSON GROUP | Other Service Provider | $952,110 | — | $952,110 |
| EASTERN STATES JOINT BOARD | Other Service Provider | $736,316 | — | $736,316 |
| JOSEPH GIOVINCO | Recordkeeper | $176,009 | — | $176,009 |
| VICTOR LAGRECA | Recordkeeper | $80,631 | — | $80,631 |
| MCCARTHY & PREECE, PLLC | Other Service Provider | $46,480 | — | $46,480 |
| ANGELA DIGIOVANNI | Recordkeeper | $38,233 | — | $38,233 |
| JOSEPH MANZELLA | Recordkeeper | $37,612 | — | $37,612 |
| CHARLES CLEMENZA | Recordkeeper | $35,367 | — | $35,367 |
| NICOLE JEAN-CHARLES | Recordkeeper | $34,850 | — | $34,850 |
| ANTHONY RAINONE | Recordkeeper | $33,366 | — | $33,366 |
| JAMES VOGT | Recordkeeper | $31,219 | — | $31,219 |
| PRISCILLA FARDUCHI | Recordkeeper | $30,794 | — | $30,794 |
| WEAVER AND TIDWELL LLP | Auditor | $30,000 | — | $30,000 |
| NORA ROA | Recordkeeper | $29,339 | — | $29,339 |
| TPA COMPUTER CORP | Other Service Provider | $22,200 | — | $22,200 |
| INTERCONTINENTAL REAL ESTATE INVEST | Other Service Provider | $17,720 | — | $17,720 |
| QUAN-VEST CONSULTANTS, INC. | Other Service Provider | $13,644 | — | $13,644 |
| ATALANTA SOSNOFF CAPITAL LLC | Other Service Provider | $13,159 | — | $13,159 |
| SUMMIT ACTUARIAL SERVICES | Other Service Provider | $10,000 | — | $10,000 |
| LAWRENCE S. FISCHER, CPA | Other Service Provider | $7,200 | — | $7,200 |
| D.D. SERVICES INC. | Other Service Provider | $6,764 | — | $6,764 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- JOSEPH GIOVINCO — Recordkeeper
- VICTOR LAGRECA — Recordkeeper
- ANGELA DIGIOVANNI — Recordkeeper
- JOSEPH MANZELLA — Recordkeeper
- CHARLES CLEMENZA — Recordkeeper
- NICOLE JEAN-CHARLES — Recordkeeper
- ANTHONY RAINONE — Recordkeeper
- JAMES VOGT — Recordkeeper
- PRISCILLA FARDUCHI — Recordkeeper
- WEAVER AND TIDWELL LLP — Auditor
- NORA ROA — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $3,498,277
- Estimated Expense Ratio: 15.016% 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 | $989,721 | $44,523 | — | $30,000 | — |
| 2023 | $1,379,957 | $25,940 | — | $45,000 | — |
| 2022 | $950,701 | $43,138 | — | — | $86,000 |