Plan Snapshot
- Plan Sponsor: Iron Workers Locals 549 & 550 Medical & Benefit Plan
- Sponsor EIN: 510168650
- Sponsor Address: 9200 US ROUTE 60, ONA, WV, 25545
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 542
- Total Assets: $17.2M
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 | 542 | $17.2M | $10.5M | $908,640 |
| 2023 | 567 | $15.5M | $11.1M | $749,707 |
| 2022 | 606 | $13.7M | $9.6M | $938,819 |
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 | $416,622 | — | $416,622 |
| AMERICAN BENEFIT CORPORATION | Recordkeeper | $303,540 | — | $303,540 |
| CAPITAL RX | Other Service Provider | $67,608 | — | $67,608 |
| FOSTER AND FOSTER | Actuary | $57,538 | — | $57,538 |
| GRAY, GRIFFITH & MAYS PLLC | Auditor | $36,867 | — | $36,867 |
| MACALA & PIATT | ERISA Attorney | $35,286 | — | $35,286 |
| WEX HEALTH INC. | Other Service Provider | $28,687 | — | $28,687 |
| JOHNSON PRINTING | Other Service Provider | $15,593 | — | $15,593 |
| ALERA GROUP | Insurance Carrier | $12,217 | — | $12,217 |
| ALAN D BILLER ASSOCIATES, INC | Investment Advisor | $12,000 | — | $12,000 |
| INTERNATIONAL FOUNDATION OF EMPLOYE | Other Service Provider | $8,497 | — | $8,497 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- ALERA GROUP — Insurance Carrier
- ALAN D BILLER ASSOCIATES, INC — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $994,455
- Estimated Expense Ratio: 5.780% 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 | $978,369 | $13,410 | $286,200 | $36,867 | — |
| 2023 | $947,571 | $12,833 | $291,705 | $5,140 | — |
| 2022 | $1,098,770 | $25,998 | $841,307 | — | $169,461 |