Plan Snapshot
- Plan Sponsor: Board Of Trustees, Sheet Metal Lcl Union No 25 Nj
- Sponsor EIN: 222586287
- Sponsor Address: 440 BARELL AVENUE, CARLSTADT, NJ, 07072
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 371
- Total Assets: $29.0M
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 | 371 | $29.0M | $10.8M | $1.3M |
| 2023 | 377 | $26.8M | $11.9M | $1.3M |
| 2022 | 411 | $25.1M | $11.2M | $762,007 |
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 | Recordkeeper | $389,526 | — | $389,526 |
| KARLEEN O NEILL | Other Service Provider | $115,919 | — | $115,919 |
| VIRGINIA OLSEN | Other Service Provider | $102,459 | — | $102,459 |
| THE SEGAL COMPANY | Other Service Provider | $77,668 | — | $77,668 |
| MANFRE CPA P.C. | Other Service Provider | $51,776 | — | $51,776 |
| HI-TECH NERDS LLC | Other Service Provider | $36,971 | — | $36,971 |
| BOYD WATTERSON GSA FUND, LP | Other Service Provider | $34,187 | — | $34,187 |
| CIGNA HEALTH & LIFE INSURANCE CO | Other Service Provider | $18,399 | — | $18,399 |
| CLEARY, JOSEM & TRIGIANI LLP | Other Service Provider | $13,886 | — | $13,886 |
| SYNTONIC SYSTEMS INC. | Other Service Provider | $10,249 | — | $10,249 |
| THOMAS P. REYNOLDS | Other Service Provider | $6,200 | — | $6,200 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $857,240
- Estimated Expense Ratio: 2.952% 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 | $1,109,777 | $105,065 | $407,925 | $53,240 | — |
| 2023 | $991,736 | $101,496 | $374,486 | $58,728 | — |
| 2022 | $1,166,725 | $94,536 | $463,128 | — | $91,669 |