Plan Snapshot
- Plan Sponsor: Ibew Local No 102 Welfare Fund Board Of Trustees
- Sponsor EIN: 226487222
- Sponsor Address: 50 PARSIPPANY ROAD, PARSIPPANY, NJ, 07054
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 2,473
- Total Assets: $117.0M
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 | 2,473 | $117.0M | $66.7M | $1.3M |
| 2023 | 2,482 | $113.4M | $64.7M | $1.4M |
| 2022 | 2,467 | $108.2M | $59.9M | $1.3M |
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 BLUE CROSS BLUE SHIELD NJ | Other Service Provider | $1,315,433 | — | $1,315,433 |
| FABIAN AND BYRN LLC | Other Service Provider | $631,542 | — | $631,542 |
| IE SHAFFER & CO | Other Service Provider | $478,986 | — | $478,986 |
| GLOBAL PHARMACEUTICAL BENEFITS LLC | Other Service Provider | $468,535 | — | $468,535 |
| ZELIS HEALTHCARE | Other Service Provider | $166,196 | — | $166,196 |
| WEAVER C BARKSDALE AND ASSOC INC | Other Service Provider | $121,049 | — | $121,049 |
| GERSON & ASSOC CPAS AND ADVISORS PC | Other Service Provider | $99,474 | — | $99,474 |
| LAW OFFICES OF TIMOTHY R HOTT | Other Service Provider | $51,629 | — | $51,629 |
| WCM FOCUSED INTL GROWTH FUND, LP | Other Service Provider | $45,426 | — | $45,426 |
| MORGAN STANLEY GRAYSTONE | Recordkeeper | $20,909 | — | $20,909 |
| ORANSKY SCARAGGI AND BORG PC | Other Service Provider | $18,133 | — | $18,133 |
| CBIZ RETIREMENT PLAN SERVICES | Other Service Provider | $5,125 | — | $5,125 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- MORGAN STANLEY GRAYSTONE — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $3,422,437
- Estimated Expense Ratio: 2.925% 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 | $1,703,207 | $187,384 | $1,276,724 | $99,474 | — |
| 2023 | $1,790,931 | $174,649 | $1,373,610 | $96,713 | — |
| 2022 | $3,308,389 | $177,140 | $2,910,935 | — | $145,777 |