Plan Snapshot
- Plan Sponsor: Ibew Local Union 347 & Iowa Chapter Of Neca Board Of Trustees
- Sponsor EIN: 237091121
- Sponsor Address: 5600 NEW KING DRIVE, SUITE 330, TROY, MI, 48098
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 2,099
- Total Assets: $92.6M
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. |
|---|---|---|---|---|
| 2025 | 2,099 | $92.6M | $0 | $0 |
| 2024 | 2,242 | $89.9M | $38.2M | $451,744 |
| 2023 | 2,136 | $73.5M | $35.5M | $497,312 |
| 2022 | 1,998 | $60.6M | $32.9M | $605,964 |
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 |
|---|---|---|---|---|
| UNITED HEALTHCARE INSURANCE COMPANY | Other Service Provider | $1,122,321 | $17,574 | $1,139,895 |
| SOLXSYS ADMINISTRATIVE SOLUTIONS | Other Service Provider | $403,242 | — | $403,242 |
| BLAKE & UHLIG | Other Service Provider | $228,802 | — | $228,802 |
| UNITED ACTUARIAL SERVICE | Other Service Provider | $77,727 | — | $77,727 |
| DEBOER & ASSOCIATES, PC | Other Service Provider | $55,785 | — | $55,785 |
| COMMUNITY STATE BANK | Other Service Provider | $47,409 | — | $47,409 |
| FIDUCIENT ADVISORS | Other Service Provider | $30,800 | — | $30,800 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $1,983,660
- Estimated Expense Ratio: 2.141% 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 |
|---|---|---|---|---|---|
| 2025 | $36,944,414 | $30,800 | $1,854,704 | $31,900 | — |
| 2024 | $2,188,683 | $29,900 | $1,675,947 | $36,000 | — |
| 2023 | $1,849,781 | $28,400 | $1,384,979 | $30,505 | — |
| 2022 | $1,869,702 | $52,720 | $269,083 | — | $301,681 |