# Local 342 Health Care Fund And Retail Health & Welfare Plan
Source: https://planprovider.pro/companies/local-342-health-care-fund-and-retail-135626340-501

> Local 342 Health Care Fund And Retail's Health & Welfare plan: 3,298 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Local 342 Health Care Fund And Retail

- **Sponsor EIN:** 135626340

- **Sponsor Address:** 1461 LAKELAND AVE. SUITE 1, BOHEMIA, NY, 11716

- **Plan Type:** Health & Welfare

- **Plan Number:** 501

- **Total Participants:** 3,298

- **Total Assets:** $10.9M

## 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|3,298|$10.9M|$26.5M|$0|

| 2023|3,074|$8.3M|$25.5M|$0|

| 2022|3,262|$3.3M|$24.0M|$9,722|

## 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|

| MAGANACARE ADMINISTRATIVE SERVICES|Other Service Provider|$1,366,418|$54,090|$1,420,508|

| AMCU & RFSEU LOCAL 342 WELFARE FUND|Other Service Provider|$1,110,000|—|$1,110,000|

| AMCU & RFSEU LOCAL 342 GROUP LEGAL|Other Service Provider|$793,557|—|$793,557|

| EMPIRX|Other Service Provider|$289,384|—|$289,384|

| UFCW LOCAL 342 UNION|Other Service Provider|$168,000|—|$168,000|

| HEALTHPLEX INC|Other Service Provider|$104,112|—|$104,112|

| NOVAK FRANCELLA LLC|Auditor|$42,183|—|$42,183|

| SUMMIT ACTUARIAL SERVICES LLC|Other Service Provider|$36,000|—|$36,000|

| JOCAR ELITE PROFESSIONALS, LLC|Other Service Provider|$27,946|—|$27,946|

| ARCHER, BYINGTON, GLENNON & LEVINE|Other Service Provider|$20,363|—|$20,363|

| SOLARUS TECHNOLOGIES|Other Service Provider|$16,559|—|$16,559|

| EMMIDIO UNGARO|Other Service Provider|$14,325|—|$14,325|

| NAKEISHA SMITH|Other Service Provider|$7,684|—|$7,684|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [NOVAK FRANCELLA LLC](https://planprovider.pro/provider/novak-francella-llc) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $4,050,621

- **Estimated Expense Ratio:** 37.029% 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|$2,268,478|$3,500|—|$37,925|—|

| 2023|$1,847,023|$3,490|—|$38,064|—|

| 2022|$2,001,232|$3,500|—|—|$86,097|

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