Plan Snapshot
- Plan Sponsor: The Business Council Of New York State, INC. Insurance Fund
- Sponsor EIN: 146034807
- Sponsor Address: 12 CORPORATE WOODS BLVD., ALBANY, NY, 122112344
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 151,182
- Total Assets: $6.4M
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 | 151,182 | $6.4M | $0 | $0 |
| 2023 | 156,174 | $6.0M | $0 | $0 |
| 2022 | 155,503 | $6.5M | $0 | $0 |
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 |
|---|---|---|---|---|
| THE BUSINESS COUNCIL OF NYS, INC. | Other Service Provider | $1,916,424 | — | $1,916,424 |
| BST & CO., CPAS, LLP | Auditor | $31,501 | — | $31,501 |
| JP MORGAN CHASE BANK NA | Other Service Provider | $24,486 | — | $24,486 |
| MICHAEL DOYLE | Custodian / Trustee | $21,645 | — | $21,645 |
| SIGMA CONSULTANTS, INC | Other Service Provider | $10,500 | — | $10,500 |
| BARCLAY DAMON LLP | ERISA Attorney | $10,355 | — | $10,355 |
| HEIDI A. NAULEAU | Custodian / Trustee | $8,782 | — | $8,782 |
| ROBERT DUFFY | Custodian / Trustee | $8,334 | — | $8,334 |
| BENEFIT ASSOCIATES, INC. | Other Service Provider | $7,970 | — | $7,970 |
| ROBERT NEIL | Custodian / Trustee | $6,836 | — | $6,836 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BST & CO., CPAS, LLP — Auditor
- BARCLAY DAMON LLP — ERISA Attorney
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $2,046,833
- Estimated Expense Ratio: 32.048% 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 | $2,634,165 | $25,466 | — | $31,501 | — |
| 2023 | $3,465,149 | $23,888 | — | $29,900 | — |
| 2022 | $3,527,891 | $32,398 | — | — | $168,066 |