Plan Snapshot
- Plan Sponsor: Sheet Metal Workers,Local 7,Zone 1 Health & Welfare Fund
- Sponsor EIN: 386099712
- Sponsor Address: 700 TOWER DR, STE 300, TROY, MI, 480982808
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 674
- Total Assets: $10.3M
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 | 674 | $10.3M | $11.3M | $450,607 |
| 2023 | 622 | $7.7M | $9.3M | $359,062 |
| 2022 | 538 | $6.7M | $7.7M | $414,271 |
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 | Recordkeeper | $484,341 | — | $484,341 |
| BENESYS | Recordkeeper | $142,271 | — | $142,271 |
| THE SEGAL COMPANY | Actuary | $33,516 | — | $33,516 |
| MANER COSTERISAN, P.C. | Auditor | $22,386 | — | $22,386 |
| FRANK D MCALPINE, ESQ. | ERISA Attorney | $15,000 | — | $15,000 |
| STEFANSKY, HOLLOWAY & NICHOLS INC | Other Service Provider | $10,468 | — | $10,468 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- MANER COSTERISAN, P.C. — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $707,982
- Estimated Expense Ratio: 6.905% 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 | $773,786 | — | $611,011 | $22,386 | — |
| 2023 | $659,240 | — | $527,596 | $21,215 | — |
| 2022 | $641,173 | $13,177 | $478,793 | — | $53,449 |