Plan Snapshot
- Plan Sponsor: Board Of Trustees Of Seafarers Officers And Employees Welfare Plan
- Sponsor EIN: 112571578
- Sponsor Address: 5201 CAPITAL GATEWAY DRIVE, CAMP SPRINGS, MD, 20746
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 403
- Total Assets: $13.9M
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 | 403 | $13.9M | $9.1M | $0 |
| 2023 | 406 | $12.1M | $8.8M | $0 |
| 2022 | 402 | $10.5M | $8.4M | $0 |
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 |
|---|---|---|---|---|
| OPTUMRX, INC. | Other Service Provider | $1,677,887 | $1,482 | $1,679,369 |
| AMWINS GROUP BENEFITS | Other Service Provider | $1,211,339 | — | $1,211,339 |
| CIGNA HEALTH AND LIFE INSURANCE CO | Other Service Provider | $654,083 | — | $654,083 |
| WEAVER AND TIDWELL, L.L.P. | Auditor | $24,000 | — | $24,000 |
| SEAFARERS VACATION FUND | Recordkeeper | $17,196 | — | $17,196 |
| BASIL CASTROVINCI ASSOCIATES INC | Other Service Provider | $8,280 | — | $8,280 |
| EVERNORTH CARE SOLUTIONS, INC. | Other Service Provider | $7,406 | — | $7,406 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- WEAVER AND TIDWELL, L.L.P. — Auditor
- SEAFARERS VACATION FUND — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $3,601,673
- Estimated Expense Ratio: 25.952% 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 | $187,811 | — | — | $24,000 | — |
| 2023 | $182,135 | $22,409 | — | $24,000 | — |
| 2022 | $174,296 | — | — | — | $54,423 |