Plan Snapshot
- Plan Sponsor: Sheet Metal Workers Unemployment
- Sponsor EIN: 382578048
- Sponsor Address: 700 TOWER DRIVE SUITE 300, TROY, MI, 480982808
- Plan Type: 401(k)
- Plan Number: 502
- Total Participants: 382
- Total Assets: $2.1M
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 | 382 | $2.1M | $317,627 | $317,102 |
| 2023 | 389 | $2.0M | $310,551 | $304,805 |
| 2022 | 368 | $1.8M | $297,325 | $294,284 |
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 |
|---|---|---|---|---|
| BENESYS, INC. | Other Service Provider | $37,025 | — | $37,025 |
| NOVARA, TESIJA P.L.L.C. | Other Service Provider | $9,896 | — | $9,896 |
| WRUBEL WESLEY & COMPANY CPAS | Other Service Provider | $5,300 | — | $5,300 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $52,221
- Estimated Expense Ratio: 2.454% 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 | $65,756 | — | $36,514 | $5,300 | — |
| 2023 | $58,556 | — | $32,600 | $5,250 | — |
| 2022 | $58,948 | $3,850 | $32,263 | — | $11,966 |