Plan Snapshot
- Plan Sponsor: Trustees Of Shopmens Local Union No. 508 Health & Welfare Fund
- Sponsor EIN: 386237159
- Sponsor Address: 2000 TOWN CENTER, SUITE 1900, SOUTHFIELD, MI, 48075
- Plan Type: 401(k)
- Plan Number: 510
- Total Participants: 381
- Total Assets: $1.8M
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 | 381 | $1.8M | $495,719 | $1,796 |
| 2023 | 401 | $2.1M | $545,142 | $402 |
| 2022 | 410 | $2.2M | $466,105 | $481 |
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 |
|---|---|---|---|---|
| LINDA BROOKS | Other Service Provider | $53,215 | — | $53,215 |
| PLANTE & MORAN, PLLC | Other Service Provider | $29,275 | — | $29,275 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $82,490
- Estimated Expense Ratio: 4.476% 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 | $176,891 | — | — | $29,275 | — |
| 2023 | $172,369 | — | — | $23,400 | — |
| 2022 | $180,686 | — | — | — | $30,241 |