Plan Snapshot
- Plan Sponsor: Teamsters Local 348 Health & Welfare Fund
- Sponsor EIN: 346564615
- Sponsor Address: 272 WEST MARKET STREET, AKRON, OH, 443032132
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 324
- Total Assets: $16.0M
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. |
|---|---|---|---|---|
| 2025 | 324 | $16.0M | $0 | $0 |
| 2024 | 359 | $14.9M | $9.4M | $146,925 |
| 2023 | 396 | $12.7M | $9.5M | $147,454 |
| 2022 | 406 | $9.9M | $9.2M | $167,397 |
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 |
|---|---|---|---|---|
| TERRI KELLOUGH | Other Service Provider | $37,610 | — | $37,610 |
| DAN F. DARROW | Other Service Provider | $37,337 | — | $37,337 |
| MELISSA MYERS | Other Service Provider | $27,400 | — | $27,400 |
| JENNIFER CARCIONE | Other Service Provider | $12,917 | — | $12,917 |
| FAULKNER, HOFFMAN & PHILLIPS LLC | ERISA Attorney | $11,434 | — | $11,434 |
| SWALLEN, LAWHUN & CO. | Auditor | $8,850 | — | $8,850 |
| PARSONS RISK STRATEGIES | Other Service Provider | $5,000 | — | $5,000 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $140,548
- Estimated Expense Ratio: 0.878% 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 |
|---|---|---|---|---|---|
| 2025 | $8,789,320 | $125 | — | $8,850 | — |
| 2024 | $220,769 | $125 | — | $8,850 | — |
| 2023 | $219,807 | $125 | — | $8,850 | — |
| 2022 | $221,636 | — | — | — | $13,850 |