Plan Snapshot
- Plan Sponsor: I.B.E.W. Local 38 Health & Welfare Fund
- Sponsor EIN: 346529234
- Sponsor Address: 3250 EUCLID AVENUE, SUITE 270, CLEVELAND, OH, 44115
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 1,927
- Total Assets: $26.0M
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 | 1,927 | $26.0M | $33.2M | $5.5M |
| 2023 | 1,721 | $26.1M | $31.1M | $5.6M |
| 2022 | 1,716 | $23.3M | $29.8M | $5.8M |
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 |
|---|---|---|---|---|
| MARATHON HEALTH, LLC | Other Service Provider | $1,007,270 | — | $1,007,270 |
| ANTHEM BLUE CROSS & BLUE SHIELD | Other Service Provider | $982,642 | — | $982,642 |
| IBEW LOCAL 38 FRINGE BENEFIT FUNDS | Recordkeeper | $135,314 | — | $135,314 |
| DELTA DENTAL OF OHIO | Other Service Provider | $127,078 | — | $127,078 |
| THE SEGAL COMPANY | Actuary | $76,890 | — | $76,890 |
| G&E HC REIT II PKWY MED CENTER LLC | Other Service Provider | $63,753 | — | $63,753 |
| ALOTTA FARLEY & CO LLP | ERISA Attorney | $61,258 | — | $61,258 |
| P&A GROUP | Other Service Provider | $53,186 | — | $53,186 |
| SAV RX | Other Service Provider | $49,248 | — | $49,248 |
| SEGALL BRYANT & HAMILL, LLC | Investment Advisor | $39,728 | — | $39,728 |
| CENTER FOR FAMILIES AND CHILDREN | Other Service Provider | $39,613 | — | $39,613 |
| VISION SERVICES PLAN | Other Service Provider | $34,495 | — | $34,495 |
| YURCHYK & DAVIS CPA'S, INC. | Auditor | $21,500 | — | $21,500 |
| MANNING & NAPIER | Investment Advisor | $18,018 | — | $18,018 |
| PCORI | Other Service Provider | $15,231 | — | $15,231 |
| PNC BANK NA | Custodian / Trustee | $13,203 | — | $13,203 |
| SEGAL MARCO CONSULTING | Other Service Provider | $12,000 | — | $12,000 |
| BROTHERS PRINTING CO. | Other Service Provider | $7,541 | — | $7,541 |
| BOYD WATTERSON ASSET MANAGEMENT | Investment Advisor | $6,840 | — | $6,840 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $2,764,808
- Estimated Expense Ratio: 10.618% 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 | $1,754,157 | $12,000 | $1,421,874 | $21,500 | — |
| 2023 | $1,743,662 | $12,000 | $1,455,181 | $19,900 | — |
| 2022 | $1,678,947 | $62,092 | $1,364,231 | — | $173,050 |