Plan Snapshot
- Plan Sponsor: Board Of Trustees Teamsters Local 641 Welfare Fund
- Sponsor EIN: 226220289
- Sponsor Address: 714 RAHWAY AVENUE, 2ND FL, UNION, NJ, 070836634
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 168
- Total Assets: $28.8M
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 | 168 | $28.8M | $3.5M | $543,290 |
| 2023 | 160 | $29.7M | $5.0M | $616,858 |
| 2022 | 422 | $32.6M | $8.7M | $408,111 |
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 |
|---|---|---|---|---|
| HORIZON HEALTHCARE SERVICES | Other Service Provider | $170,851 | — | $170,851 |
| DIANE FLORIAN | Other Service Provider | $70,897 | — | $70,897 |
| PAYER MATRIX LLC | Other Service Provider | $63,810 | — | $63,810 |
| GELLERT SEITZ BUSENKELL & BROWN LLC | Other Service Provider | $57,982 | — | $57,982 |
| MSPC | Auditor | $53,904 | — | $53,904 |
| AMIRA ALLEN | Other Service Provider | $49,756 | — | $49,756 |
| TOWNSHIP OF UNION | Other Service Provider | $45,248 | — | $45,248 |
| BRIDGEWAY BENEFIT TECHNOLOGY | Other Service Provider | $40,185 | — | $40,185 |
| SUMMIT ACTUARIAL SERVICES, LLC | Other Service Provider | $32,000 | — | $32,000 |
| INVESTMENT PERFORMANCE SERVICES LLC | Other Service Provider | $30,000 | — | $30,000 |
| SPECIALIZED COMPUTER RESOURCES INC | Other Service Provider | $29,815 | — | $29,815 |
| AMERICAN REALTY | Other Service Provider | $27,865 | — | $27,865 |
| KROLL HEINEMAN PTASIEWICZ & PARSONS | Other Service Provider | $21,170 | — | $21,170 |
| WEDGE CAPITAL MANAGEMENT | Other Service Provider | $19,444 | — | $19,444 |
| AMALGAMATED BANK OF CHICAGO | Other Service Provider | $18,597 | — | $18,597 |
| LIVERMAN COMMERCIAL | Other Service Provider | $16,303 | — | $16,303 |
| DELTA DENTAL OF NJ | Other Service Provider | $13,199 | — | $13,199 |
| ALICE RYAN | Other Service Provider | $12,912 | — | $12,912 |
| PSE&G | Other Service Provider | $12,798 | — | $12,798 |
| LANDSCAPE SOLUTIONS | Other Service Provider | $10,296 | — | $10,296 |
| US REAL ESTATE | Other Service Provider | $10,252 | — | $10,252 |
| EMPRIX HEALTH | Other Service Provider | $9,880 | — | $9,880 |
| GREAT LAKES | Other Service Provider | $8,927 | — | $8,927 |
| TEAMSTERS CENTER SERVICES | Other Service Provider | $7,587 | — | $7,587 |
| FAIR HEALTH INC. | Other Service Provider | $7,330 | — | $7,330 |
| ARMANDOS HOME IMPROVEMENT | Other Service Provider | $7,000 | — | $7,000 |
| PERFECT TEMP SERVICES | Other Service Provider | $6,866 | — | $6,866 |
| JOHNSON CONTROLS | Other Service Provider | $6,317 | — | $6,317 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- MSPC — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $861,191
- Estimated Expense Ratio: 2.994% 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 | $1,048,699 | $115,880 | — | $35,000 | — |
| 2023 | $1,128,053 | $128,465 | — | $27,039 | — |
| 2022 | $1,208,486 | $67,916 | — | — | $131,898 |