Plan Snapshot
- Plan Sponsor: Novartis Corporation
- Sponsor EIN: 131834433
- Sponsor Address: ONE HEALTH PLAZA, EAST HANOVER, NJ, 079363142
- Plan Type: Health & Welfare
- Plan Number: 542
- Total Participants: 12,421
- Total Assets: $49.9M
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 | 12,421 | $49.9M | $6.8M | $2.4M |
| 2023 | 12,645 | $44.1M | $7.6M | $2.6M |
| 2022 | 13,628 | $37.7M | $8.5M | $2.9M |
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 |
|---|---|---|---|---|
| METROPOLITAN LIFE INSURANCE COMPANY | Recordkeeper | $338,891 | — | $338,891 |
| NORTHERN TRUST | Other Service Provider | $60,521 | — | $60,521 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $399,412
- Estimated Expense Ratio: 0.800% 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 | $399,410 | — | $399,410 | — | — |
| 2023 | $436,605 | — | $349,762 | — | — |
| 2022 | $560,070 | — | $560,070 | — | — |