# New England Electrical Workers Benefits Fund Health & Welfare Plan
Source: https://planprovider.pro/companies/new-england-electrical-workers-benefits-fund-060860627-501

> New England Electrical Workers Benefits Fund's Health & Welfare plan: 4,070 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** New England Electrical Workers Benefits Fund

- **Sponsor EIN:** 060860627

- **Sponsor Address:** 321 RESEARCH PKWY, MERIDEN, CT, 06450

- **Plan Type:** Health & Welfare

- **Plan Number:** 501

- **Total Participants:** 4,070

- **Total Assets:** $139.9M

## 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|4,070|$139.9M|$93.1M|$10.0M|

| 2023|3,812|$119.0M|$91.7M|$7.5M|

| 2022|3,589|$93.6M|$82.3M|$6.7M|

## 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 HEALTH PLANS, INC|Other Service Provider|$1,726,129|$58,596|$1,784,725|

| ZENITH AMERICAN SOLUTIONS|Other Service Provider|$1,312,427|—|$1,312,427|

| SOLXSYS ADMINISTRATIVE SOLUTIONS|Other Service Provider|$746,400|—|$746,400|

| ZELIS|Other Service Provider|$362,161|—|$362,161|

| LABOR FIRST LLC|Other Service Provider|$315,724|—|$315,724|

| PRIME PAY|Other Service Provider|$172,370|—|$172,370|

| LOWER HUDSON VALLEY E.A.P.|Other Service Provider|$162,942|—|$162,942|

| ROBERT M. CHEVERIE & ASSOC., P.C.|Other Service Provider|$144,000|—|$144,000|

| GRAYSTONE CONSULTING LLC|Other Service Provider|$125,328|—|$125,328|

| NOVAK FRANCELLA LLC|Auditor|$85,613|—|$85,613|

| HINGE HEALTH, INC.|Other Service Provider|$81,771|—|$81,771|

| THE SEGAL GROUP, INC.|Other Service Provider|$68,872|—|$68,872|

| EATON VANCE MANAGEMENT|Other Service Provider|$53,199|—|$53,199|

| SAV-RX PRESCRIPTION SERVICES|Other Service Provider|$48,536|—|$48,536|

| MODERN ASSISTANCE PROGRAMS, INC.|Other Service Provider|$45,739|—|$45,739|

| SUN LIFE CAPITAL MANAGEMENT LLC|Other Service Provider|$30,401|—|$30,401|

| CBIZ-SAVITZ,INC|Other Service Provider|$21,450|—|$21,450|

| SANTANDER BANK|Other Service Provider|$20,198|—|$20,198|

| LAPIER, DILLON & ASSOCIATES PC|Auditor|$10,883|—|$10,883|

| ALLEGRA PRINT & IMAGING|Other Service Provider|$8,412|—|$8,412|

| WEX, INC.|Other Service Provider|$7,588|—|$7,588|

### 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

- [LAPIER, DILLON & ASSOCIATES PC](https://planprovider.pro/provider/lapier-dillon-and-associates-pc) — Auditor

## Plan Fees & Expenses

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

- **Total Service Provider Fees:** $5,608,739

- **Estimated Expense Ratio:** 4.010% 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|$5,194,715|$30,401|$2,428,575|$60,780|—|

| 2023|$4,859,495|$146,083|$2,245,367|$59,470|—|

| 2022|$4,528,793|$102,220|$2,167,512|—|$298,869|

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