Plan Snapshot
- Plan Sponsor: Board Of Trustees Of The Ibew Local 25 Health & Benefit Fund
- Sponsor EIN: 111630810
- Sponsor Address: 372 VANDERBILT MOTOR PARKWAY, HAUPPAUGE, NY, 117885133
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 1,652
- Total Assets: $93.6M
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. |
|---|---|---|---|---|
| 2025 | 1,652 | $93.6M | $0 | $0 |
| 2024 | 1,596 | $82.4M | $45.3M | $3.1M |
| 2023 | 1,671 | $76.8M | $42.9M | $3.2M |
| 2022 | 1,699 | $71.0M | $39.8M | $3.4M |
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 |
|---|---|---|---|---|
| MAGNACARE ADMINISTRATIVE SRVCS LLC | Other Service Provider | $1,411,185 | — | $1,411,185 |
| LABOR FIRST | Other Service Provider | $363,157 | — | $363,157 |
| PAYER MATRIX | Other Service Provider | $317,521 | — | $317,521 |
| CBIZ RETIREMENT PLAN SERVICES | Other Service Provider | $114,285 | — | $114,285 |
| BANK OF NEW YORK MELLON | Other Service Provider | $95,701 | — | $95,701 |
| SCHULTHEIS & PANETTIERI, LLP | Other Service Provider | $62,675 | — | $62,675 |
| ARCHER, BYINGTON, GLENNON & LEVINE | ERISA Attorney | $39,854 | — | $39,854 |
| NATIONAL INVESTMENT SERVICES | Other Service Provider | $29,664 | — | $29,664 |
| LOOMIS SAYLES TRUST COMPANY | Other Service Provider | $20,335 | — | $20,335 |
| WELLINGTON TRUST COMPANY, NA | Other Service Provider | $7,380 | — | $7,380 |
| BERARD & ASSOCIATES, CPA'S PC | Other Service Provider | $6,100 | — | $6,100 |
| SEGAL MARCO ADVISORS | Other Service Provider | $5,000 | — | $5,000 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $2,472,857
- Estimated Expense Ratio: 2.641% 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 |
|---|---|---|---|---|---|
| 2025 | $47,420,389 | $62,378 | — | $62,675 | — |
| 2024 | $1,345,511 | $58,784 | — | $60,850 | — |
| 2023 | $1,366,328 | $58,398 | — | $58,725 | — |
| 2022 | $1,352,091 | $175,238 | — | — | $262,482 |