Plan Snapshot
- Plan Sponsor: Teamsters Welfare Fund Of Northern New Jersey Local 723
- Sponsor EIN: 221736275
- Sponsor Address: 714 RAHWAY AVENUE, UNION, NJ, 07083
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 727
- Total Assets: $44.6M
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 | 727 | $44.6M | $7.6M | $23,770 |
| 2023 | 658 | $36.7M | $6.6M | $11,738 |
| 2022 | 522 | $29.3M | $5.7M | $6,132 |
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 |
|---|---|---|---|---|
| INSURANCE DESIGN ADMINISTRATORS | Other Service Provider | $701,969 | — | $701,969 |
| EMPIRX | Other Service Provider | $423,345 | — | $423,345 |
| DELTA DENTAL OF NEW JERSEY, LLC | Other Service Provider | $240,995 | — | $240,995 |
| JANNEY MONTGOMERY SCOTT | Investment Advisor | $150,618 | — | $150,618 |
| FIRST STATE TRUST COMPANY | Other Service Provider | $133,069 | — | $133,069 |
| RBC WEALTH MANAGEMENT | Recordkeeper | $133,069 | — | $133,069 |
| VANDA NENO | Investment Advisor | $105,581 | — | $105,581 |
| MARIA GARATE | Investment Advisor | $75,600 | — | $75,600 |
| BARATZ & ASSOCIATES, P.A. | Auditor | $63,780 | — | $63,780 |
| SPECIALIZED COMPUTER RESOURCES INC | Other Service Provider | $30,366 | — | $30,366 |
| JBM COMPUTER CONSULTANTS, INC. | Other Service Provider | $28,343 | — | $28,343 |
| SUMMIT ACTURIAL SERVICES LLC | Other Service Provider | $20,000 | — | $20,000 |
| COMERICA BANK | Other Service Provider | $18,200 | — | $18,200 |
| PERFECT PRINTING SOLUTIONS | Other Service Provider | $9,718 | — | $9,718 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- JANNEY MONTGOMERY SCOTT — Investment Advisor
- RBC WEALTH MANAGEMENT — Recordkeeper
- VANDA NENO — Investment Advisor
- MARIA GARATE — Investment Advisor
- BARATZ & ASSOCIATES, P.A. — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $2,134,653
- Estimated Expense Ratio: 4.782% 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 | $1,272,282 | $301,888 | $457,612 | $63,780 | — |
| 2023 | $1,189,532 | $240,304 | $400,595 | $50,003 | — |
| 2022 | $1,072,292 | $240,302 | $330,063 | — | $75,358 |