Plan Snapshot
- Plan Sponsor: Metal Polishers Union Local 8a-28a Welfare Fund
- Sponsor EIN: 135624028
- Sponsor Address: 36-18 33RD STREET, LONG ISLAND CITY, NY, 11106
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 395
- Total Assets: $9.9M
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 | 395 | $9.9M | $7.3M | $0 |
| 2023 | 399 | $9.4M | $7.2M | $0 |
| 2022 | 431 | $9.6M | $7.0M | $5,116 |
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 |
|---|---|---|---|---|
| MAGNACARE ADMINISTRATIVE SERVICES | Other Service Provider | $148,960 | $28,219 | $177,179 |
| GLORIA DIAZ | Other Service Provider | $143,945 | — | $143,945 |
| BARNES, IACCARINO & SHEPERD LLP | Other Service Provider | $79,054 | — | $79,054 |
| JOSEPH RAMAGLIA | Other Service Provider | $78,292 | — | $78,292 |
| NIRMALA LALL | Other Service Provider | $76,927 | — | $76,927 |
| THE SEGAL COMPANY | Other Service Provider | $73,980 | — | $73,980 |
| EMPIRX HEALTH | Other Service Provider | $57,342 | — | $57,342 |
| NOVAK FRANCELLA LLC | Auditor | $37,536 | — | $37,536 |
| PITTA & GIBLIN LLP | Other Service Provider | $28,541 | — | $28,541 |
| MARSHALL & MOSS PAYROLL COMPLIANCE | Other Service Provider | $25,775 | — | $25,775 |
| MARSHALL & MOSS LLP | Other Service Provider | $23,324 | — | $23,324 |
| WORKERS ASSISTANCE PROGRAM | Other Service Provider | — | $21,600 | $21,600 |
| GALLAGHER BENEFIT SERVICES, INC. | Investment Advisor | $20,665 | — | $20,665 |
| PREMIER LABOR BENEFITS | Other Service Provider | — | $14,400 | $14,400 |
| DDS , INC. | Other Service Provider | $11,890 | — | $11,890 |
| SEGAL SELECT INSURANCE SERVICES,INC | Other Service Provider | — | $6,789 | $6,789 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- NOVAK FRANCELLA LLC — Auditor
- GALLAGHER BENEFIT SERVICES, INC. — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $877,239
- Estimated Expense Ratio: 8.900% 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 | $742,481 | — | — | $37,536 | — |
| 2023 | $656,753 | — | — | $39,031 | — |
| 2022 | $627,237 | — | — | — | $240,880 |