Plan Snapshot
- Plan Sponsor: Loc. 351 Ibew Health & Welfare Fund
- Sponsor EIN: 223235800
- Sponsor Address: PO BOX 1028, WEST TRENTON, NJ, 08628
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 1,698
- Total Assets: $23.6M
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. |
|---|---|---|---|---|
| 2024 | 1,698 | $23.6M | $36.3M | $537,820 |
| 2023 | 1,707 | $23.5M | $33.6M | $723,449 |
| 2022 | 1,744 | $24.4M | $30.7M | $773,783 |
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 |
|---|---|---|---|---|
| HORIZON HEALTHCARE SERVICES, INC | Other Service Provider | $1,130,395 | — | $1,130,395 |
| I.E. SHAFFER & CO | Other Service Provider | $746,912 | — | $746,912 |
| CAPITAL RX, INC | Other Service Provider | $322,454 | — | $322,454 |
| DELTA DENTAL OF NEW JERSEY, INC | Other Service Provider | $73,169 | — | $73,169 |
| OBRIEN BELLAND & BUSHINSKY | Other Service Provider | $41,573 | — | $41,573 |
| EMPOWER ANNUITY INSURANCE CO | Other Service Provider | $40,263 | — | $40,263 |
| GERSON & ASSOC CPAS AND ADVISORS PC | Other Service Provider | $26,500 | — | $26,500 |
| MILLIMAN LLC | Recordkeeper | $21,211 | — | $21,211 |
| MSPC CERTIFIED PUBLIC ACCOUNTANTS | Auditor | $14,267 | — | $14,267 |
| PRINCETON HEALTHCARE SYSTEM EAP | Other Service Provider | $11,601 | — | $11,601 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- MILLIMAN LLC — Recordkeeper
- MSPC CERTIFIED PUBLIC ACCOUNTANTS — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $2,428,345
- Estimated Expense Ratio: 10.288% 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 | $928,886 | $40,263 | $746,912 | $40,767 | — |
| 2023 | $839,124 | $30,091 | $688,885 | $37,237 | — |
| 2022 | $806,755 | $43,409 | $618,441 | — | $107,732 |