Plan Snapshot
- Plan Sponsor: Iron Workers Local 8 Welfare Fund
- Sponsor EIN: 390855190
- Sponsor Address: 1520 KENSINGTON ROAD SUITE 200, OAK BROOK, IL, 605232197
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 982
- Total Assets: $52.9M
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 | 982 | $52.9M | $17.0M | $3.0M |
| 2023 | 982 | $51.2M | $15.6M | $3.1M |
| 2022 | 897 | $47.2M | $13.6M | $3.0M |
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 |
|---|---|---|---|---|
| ANTHEM BLUE CROSS BLUE SHIELD | Other Service Provider | $494,102 | — | $494,102 |
| BENEFIT MANAGEMENT GROUP, INC. | Other Service Provider | $453,543 | — | $453,543 |
| REINHART BOERNER VAN DEUREN S.C. | Other Service Provider | $153,412 | — | $153,412 |
| THE SEGAL COMPANY | Other Service Provider | $90,670 | — | $90,670 |
| EMPLOYEE RESOURCE SYSTEMS, INC. | Recordkeeper | $64,488 | — | $64,488 |
| DELTA DENTAL | Other Service Provider | $46,375 | — | $46,375 |
| SIKICH CPA LLC | Auditor | $30,275 | — | $30,275 |
| MARQUETTE ASSOCIATES | Other Service Provider | $22,917 | — | $22,917 |
| SOMMERS & FAHRENBACH | Other Service Provider | $21,070 | — | $21,070 |
| AMALGAMATED BANK OF CHICAGO | Other Service Provider | $20,980 | — | $20,980 |
| COMBINED CRAFTS | Other Service Provider | $16,225 | — | $16,225 |
| NATIONAL INVESTMENT SERVICES | Other Service Provider | $11,452 | — | $11,452 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- EMPLOYEE RESOURCE SYSTEMS, INC. — Recordkeeper
- SIKICH CPA LLC — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $1,425,509
- Estimated Expense Ratio: 2.692% 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 | $922,705 | $93,172 | $430,803 | $30,275 | — |
| 2023 | $957,912 | $92,206 | $425,027 | $28,560 | — |
| 2022 | $777,078 | $37,609 | $421,086 | — | $233,930 |