Plan Snapshot
- Plan Sponsor: Local 51
- Sponsor EIN: 050504791
- Sponsor Address: 11 HEMINGWAY DR, EAST PROVIDENCE, RI, 029152225
- Plan Type: DC
- Plan Number: 002
- Total Participants: 1,045
- Total Assets: $95.6M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2025 | 1,045 | $95.6M | $0 | $0 |
| 2024 | 1,358 | $82.9M | $5.2M | $0 |
| 2023 | 1,316 | $73.5M | $4.7M | $0 |
| 2022 | 1,288 | $63.8M | $3.9M | $0 |
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 |
|---|---|---|---|---|
| WARD, FISHER & COMPANY LLC | Other Service Provider | $214,000 | — | $214,000 |
| MORGAN STANLEY | Investment Advisor | $100,485 | — | $100,485 |
| BENESYS INC | Recordkeeper | $44,842 | — | $44,842 |
| RODIO & URSILLO | ERISA Attorney | $26,000 | — | $26,000 |
| ROBERT CHEVERIE & ASSOCIATES | ERISA Attorney | $8,500 | — | $8,500 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $393,827
- Estimated Expense Ratio: 0.412% 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 |
|---|---|---|---|---|---|
| 2025 | $4,958,481 | $100,485 | $240,774 | $214,000 | — |
| 2024 | $483,283 | $107,876 | $203,292 | $61,060 | — |
| 2023 | $355,375 | $26,012 | $197,491 | $15,000 | — |
| 2022 | $435,967 | $67,625 | $204,950 | — | $101,194 |