# Iron Workers Locals 549 & 550 Medical & Benefit Plan Health & Welfare Plan
Source: https://planprovider.pro/companies/iron-workers-locals-549-550-medical-benefit-plan-510168650-501

> Iron Workers Locals 549 & 550 Medical & Benefit Plan's Health & Welfare plan: 542 participants, plan year 2024 financials, providers, and benchmarks from For…

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/alera-investment-advisors-llc) — Insurance Carrier

- [ALAN D BILLER ASSOCIATES, INC](https://planprovider.pro/provider/trucker-huss-apc) — 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|

## Similar Plans

- [Ironworkers Local 549/550 Security Plan Board Of Trustees](https://planprovider.pro/companies/ironworkers-local-549-550-security-plan-board-of-trustees-341399439-001) — 4,003 participants

- [Ironworkers Local 549-550 Pension Plan](https://planprovider.pro/companies/ironworkers-local-549-550-pension-plan-556027928-001) — 792 participants

[View full interactive plan profile on PlanProvider.Pro](https://planprovider.pro/companies/iron-workers-locals-549-550-medical-benefit-plan-510168650-501)

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