Plan Snapshot
- Plan Sponsor: Plumbers Local Union No 24 Welfare Fund
- Sponsor EIN: 226044230
- Sponsor Address: PO BOX 1028, WEST TRENTON, NJ, 086280230
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 598
- Total Assets: $43.2M
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 | 598 | $43.2M | $19.8M | $770,941 |
| 2023 | 609 | $41.1M | $19.6M | $712,242 |
| 2022 | 582 | $39.4M | $17.9M | $803,139 |
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 |
|---|---|---|---|---|
| HORIZON HEALTHCARE SERVICES, INC | Other Service Provider | $402,363 | — | $402,363 |
| I E SHAFFER & CO | Other Service Provider | $342,291 | — | $342,291 |
| LABOR FIRST LLC | Other Service Provider | $87,581 | — | $87,581 |
| PLUMBERS LOCAL UNION NO. 24 | Other Service Provider | $79,827 | — | $79,827 |
| GERSON & ASSOCIATES CPAS AND ADVISO | Other Service Provider | $39,115 | — | $39,115 |
| WEAVER C BARKSDALE | Other Service Provider | $37,796 | — | $37,796 |
| BASIL CASTROVINCI ASSOCIATES | Other Service Provider | $30,715 | — | $30,715 |
| ORNASKY, SCARAGGI, & BORG, PC | Other Service Provider | $23,591 | — | $23,591 |
| LINDABURY, MCCORMICK & ESTABROOK | Other Service Provider | $13,445 | — | $13,445 |
| ZAZZALI, FAGELLA, NOWAK KLEINBAUM | Other Service Provider | $8,667 | — | $8,667 |
| AMALGAMATED BANK | Other Service Provider | $8,565 | — | $8,565 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $1,073,956
- Estimated Expense Ratio: 2.487% 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 | $799,397 | $42,619 | $342,291 | $39,115 | — |
| 2023 | $767,735 | $42,456 | $337,958 | $42,082 | — |
| 2022 | $800,077 | $44,445 | $325,329 | — | $127,562 |