Plan Snapshot
- Plan Sponsor: Sheet Metal Worker 7 Zone 3 Welfare
- Sponsor EIN: 381449784
- Sponsor Address: 700 TOWER DRIVE SUITE NO. 300, TROY, MI, 480982808
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 247
- Total Assets: $2.7M
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 | 247 | $2.7M | $4.2M | $587,088 |
| 2023 | 236 | $2.1M | $3.7M | $643,223 |
| 2022 | 197 | $2.0M | $2.6M | $695,252 |
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 |
|---|---|---|---|---|
| BLUE CROSS BLUE SHIELD OF MICHIGAN | Other Service Provider | $296,398 | — | $296,398 |
| BENESYS INC | Recordkeeper | $82,702 | — | $82,702 |
| THE SALUS GROUP | Other Service Provider | $43,542 | $485 | $44,027 |
| PNC BANK | Other Service Provider | $36,537 | — | $36,537 |
| HEALTH CARE ADVOCATE | Other Service Provider | $22,132 | — | $22,132 |
| LEDBETTER PARISI LLC | ERISA Attorney | $21,568 | — | $21,568 |
| DELTA DENTAL | Other Service Provider | $17,922 | — | $17,922 |
| WRUBEL WESLEY & COMPANY CPAS | Auditor | $10,930 | — | $10,930 |
| ULLIANCE | Other Service Provider | $9,568 | — | $9,568 |
| FR SECURE LLC | Other Service Provider | $6,516 | — | $6,516 |
| CUNI RUST AND STRENK | Actuary | $6,500 | — | $6,500 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $554,800
- Estimated Expense Ratio: 20.567% 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 | $265,690 | $2,457 | $77,736 | $9,800 | — |
| 2023 | $253,744 | $2,067 | $77,736 | $10,100 | — |
| 2022 | $237,616 | $2,701 | $81,009 | — | $47,381 |