Plan Snapshot
- Plan Sponsor: Iron Workers Local 28 Health & Welfare Fund Of Richmond Virginia Area
- Sponsor EIN: 546068836
- Sponsor Address: P.O. BOX 1749, SALEM, VA, 24153
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 281
- Total Assets: $14.7M
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 | 281 | $14.7M | $3.6M | $19,838 |
| 2023 | 280 | $12.4M | $3.1M | $5,229 |
| 2022 | 283 | $12.1M | $3.2M | $2,774 |
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 |
|---|---|---|---|---|
| L.C MUSGOVE ASSOCIATES | Other Service Provider | $132,291 | — | $132,291 |
| O'DONOGHUE & O'DONOGHUE, LLP | Other Service Provider | $31,024 | — | $31,024 |
| AMERICAN BENEFIT GROUP | Other Service Provider | $30,000 | — | $30,000 |
| CALIBRE CPA GROUP, PLLC | Auditor | $29,565 | — | $29,565 |
| SEGAL SELECT INSURANCE SERVICES | Other Service Provider | $26,501 | — | $26,501 |
| BHA CONSULTING LLC | Other Service Provider | $25,513 | — | $25,513 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- CALIBRE CPA GROUP, PLLC — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $274,894
- Estimated Expense Ratio: 1.876% 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 | $252,752 | $8,447 | $130,092 | $17,515 | — |
| 2023 | $237,276 | $4,000 | $130,092 | $18,846 | — |
| 2022 | $219,344 | $4,000 | $70,085 | — | $120,092 |