Plan Snapshot
- Plan Sponsor: Ibew Local 43 & Electrical Contractors Welfare Fund Board Of Trustees
- Sponsor EIN: 156025163
- Sponsor Address: PO BOX 2218, SYRACUSE, NY, 13220
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 1,117
- Total Assets: $75.3M
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 | 1,117 | $75.3M | $22.6M | $1.5M |
| 2023 | 1,066 | $67.2M | $21.2M | $1.5M |
| 2022 | 1,066 | $59.5M | $20.7M | $1.6M |
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 |
|---|---|---|---|---|
| UMR, INC | Other Service Provider | $661,300 | $40,974 | $702,274 |
| THE SEGAL CO. | Other Service Provider | $100,000 | $146,620 | $246,620 |
| JOSEPH W. MCCARTHY & ASSOC | Other Service Provider | $125,173 | — | $125,173 |
| STACY BRAUN ASSOCIATES | Other Service Provider | $93,911 | — | $93,911 |
| KEVIN KOVAL | Recordkeeper | $90,858 | — | $90,858 |
| SHEILA J FITZMAURICE | Recordkeeper | $68,158 | — | $68,158 |
| ELIZA POTEKHIN | Other Service Provider | $65,860 | — | $65,860 |
| BLITMAN & KING | Other Service Provider | $60,630 | — | $60,630 |
| MICHELLE HOTCHKISS | Other Service Provider | $50,281 | — | $50,281 |
| BONADIO & CO., LLP | Auditor | $39,050 | — | $39,050 |
| SIMPLIFIED COMPUTERS | Other Service Provider | $26,053 | — | $26,053 |
| EMPLOYEE NETWORK, INC. | Recordkeeper | $25,801 | — | $25,801 |
| NATALIIA HARBUZIUK | Other Service Provider | $18,173 | — | $18,173 |
| MARCO CONSULTING GROUP | Other Service Provider | $13,000 | — | $13,000 |
| US BANK | Recordkeeper | $6,716 | — | $6,716 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BONADIO & CO., LLP — Auditor
- EMPLOYEE NETWORK, INC. — Recordkeeper
- US BANK — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $1,632,558
- Estimated Expense Ratio: 2.168% 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 | $797,490 | $116,093 | — | $39,050 | — |
| 2023 | $914,996 | $114,932 | — | $35,370 | — |
| 2022 | $591,582 | $101,202 | — | — | $196,610 |