Plan Snapshot
- Plan Sponsor: Sheet Metal Workers Local Union No 48 Welfare Fund
- Sponsor EIN: 630713360
- Sponsor Address: 1108 29TH STREET NORTH, BIRMINGHAM, AL, 35234
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 238
- Total Assets: $5.4M
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 | 238 | $5.4M | $4.2M | $22,784 |
| 2023 | 227 | $5.0M | $3.0M | $48,527 |
| 2022 | 214 | $4.6M | $2.7M | $84,180 |
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 | Other Service Provider | $216,124 | — | $216,124 |
| SOUTHERN BENEFIT ADMINISTRATOR, INC | Other Service Provider | $84,242 | — | $84,242 |
| BHA CONSULTANT | Other Service Provider | $36,438 | — | $36,438 |
| RX BENEFITS | Other Service Provider | $31,377 | — | $31,377 |
| PNC ASSET MANAGEMENT | Other Service Provider | $15,798 | — | $15,798 |
| QUINN CONNOR WEAVER DAVIES & ROUCO | Other Service Provider | $15,775 | — | $15,775 |
| POTTER, BRYANT & MOORE | Other Service Provider | $13,750 | — | $13,750 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $413,504
- Estimated Expense Ratio: 7.623% 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 | $445,507 | $15,798 | $247,501 | $13,750 | — |
| 2023 | $400,693 | $16,688 | $221,740 | $13,750 | — |
| 2022 | $377,710 | $13,693 | $192,976 | — | $152,800 |