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Original filing (PDF)20251013120201NAL0001173409001
BOARD OF TRUSTEES
Form 5500
FILING_RECEIVED
LIFE BENEFIT PLAN
Health & welfare plan
Signals · 4
2 failed disclosures~3478 bps in Sched C feesNo recordkeeper disclosed18 service providers
Active participants
788
Accounts w/ balance
—
Plan assets (EOY)
$5.2M
Net assets (EOY)
$4.5M
How this plan invests
This plan
55 securities
funds · stocks · CUSIPs
Holdings are itemized directly on this plan's Schedule of Assets, below.
Plan health score (directional)
83
/ 100
Grade B
Above-average plan
Directional indicator computed from public Form 5500 data — compliance, concentration, cost, vendor stack and participation. Not a fiduciary tool.
Compliance & disclosures
80
Concentration risk
100
Total plan cost
65
Vendor stack
80
Participation health
100
Knocking points off
- 2 Schedule C providers failed to disclose compensation.
- 3478 bps in Schedule C fees — 6588% above peer band of 52 bps.
- No recordkeeper disclosed on Schedule C.
Decision-maker contacts
CFO / Head of HR / Benefits Manager — verified email + LinkedIn for BOARD OF TRUSTEES.
Plan sponsor
Name
BOARD OF TRUSTEES
EIN
11-1708617
Address
325 73RD STREET · BROOKLYN, NY · 112092503
Phone
(718) 238-2399
Industry
Finance & Insurancesee all
Plan administrator
Same as plan sponsor.
Plan characteristics
Plan number
501
Plan year
2024
Plan year begin
2024-01-01
Tax period
2024-12-31
Filed
2025-10-13
Welfare benefit codes
4A · Health (other than dental or vision)
4D · Dental
4E · Vision
4L · Death Benefits (other than life insurance)
4Q · Other
4U · Dependent Care
Audit & trust (Schedule H)
Auditor
ADEPTUS PARTNERS CPAS, LLC
Trustee / custodian
—
Trustee phone
—
Service providers (Schedule C)
18 rowsLegal counsel
1| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| STARR, GERN, DAVISON & RUBIN PC | 22-3241223 | ROSELAND, NJ | AFFILIATED UNION ATTORNEY | $12K | — |
Other
17| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| LEAGUE OF INTERNATIONAL FEDERATED | 11-3358248 | BROOKLYN, NY | AFFILIATED UNION | $589K | — |
| JOHN N MONGELLO | 11-1708617 | FREEHOLD, NJ | HUSBAND-KATHY MONGELLO | $344K | — |
| JESSICA GAMBINO | 11-1708617 | MANALAPAN, NJ | DAUGHTER-KATHY MONGELLO | $193K | — |
| ADEPTUS PARTNERS CPAS, LLC | 20-1835208 | JERICHO, NY | NONE | $92K | — |
| DEBORAH J SPADARO | 11-1708617 | STATEN ISLAND, NY | NONE | $89K | — |
| EMPIRX HEALTH | 47-1226691 | MONTVALE, NJ | NONE | $81K | — |
| MONICA OLSZEWSKI | 11-1708617 | MIDDLE VILLAGE, NY | NONE | $78K | — |
| PHYLLIS E SCAFIDI | 11-1708617 | BROOKLYN, NY | NONE | $76K | — |
| UNITED LABOR SYSTEMS | 82-3261006 | LONG BEACH, NY | NONE | $53K | — |
| KATHY MONGELLO | 11-1708617 | FREEHOLD, NJ | WIFE-JOHN MONGELLO | $40K | — |
| MULTIPLAN, INC | 13-3068979 | NEW YORK, NY | NONE | $35K | — |
| VAC INSURANCE AGENCY | 11-2425357 | BROOKLYN, NY | NONE | $29K | — |
| GENERAL VISION SERVICES, LLC | 11-3580576 | NEW YORK, NY | NONE | $27K | — |
| DANZIGER & MARKHOFF LLP | 13-3010201 | WHITE PLAINS, NY | NONE | $20K | — |
| DDI LEASING, INC | 22-3369266 | HOPATCONG, NJ | NONE | $20K | — |
| CLOUDSAFE GROUP LLC | 93-3338642 | MIAMI, FL | NONE | $14K | — |
| PAYCHEX | 16-1124166 | HAUPPAUGE, NY | NONE | $10K | — |
Failed / refused disclosures (Sched C Part 2)
| Provider | Nondisclosure info |
|---|---|
| DDI LEASING, INC | INFORMATION ON INDIRECT COMPENSATION |
| ANTHEM BLUECROSS | INFORMATION ON EIN, INDIRECT COMPENSATION |
Investments
55 direct securities· $13.7M(100% of reported assets)
| PI | Investment | Type | Shares / units | Cost | Current value | % of plan |
|---|---|---|---|---|---|---|
| Total benefit payments | — | — | $2.5M | $2.3M | 44.8% | |
| Total administrative expenses | — | — | $2.4M | $2.2M | 43.0% | |
| Interest Bearing Cash totals | — | — | $1.9M | $1.9M | 36.5% | |
| Payments to provide benefits Medical insurance | — | — | $2.0M | $1.9M | 36.4% | |
| Citibank Interest Bearing Cash | — | — | $1.8M | $1.8M | 35.1% | |
| Administrative fees | — | — | $1.8M | $1.7M | 32.5% | |
| Optical benefits 200 Total benefit payments | — | — | $526K | $435K | 8.4% | |
| Life Benefit Plan Schedules of Plan Benefit Payments Years Ended December 31, 2024 and 2023 2024 2023 Benefit payments Hospital, medical and surgery | — | — | $409K | $334K | 6.4% | |
| Office | — | — | $115K | $106K | 2.0% | |
| Fidelity Adv Equity Growth Class A Mutual Fund | — | — | $64K | $105K | 2.0% | |
| Lease expense | — | — | $130K | $105K | 2.0% | |
| Computer expense | — | — | $78K | $92K | 1.8% | |
| Life Benefit Plan Schedules of Administrative Expenses Years Ended December 31, 2024 and 2023 2024 2023 Administrative expenses Accounting and auditing | — | — | $97K | $90K | 1.7% | |
| Legal | — | — | $34K | $83K | 1.6% | |
| Morgan Stanley Active Assets Money Trust Interest Bearing Cash | — | — | $70K | $70K | 1.3% | |
| Prescription benefits | — | — | $81K | $69K | 1.3% | |
| Fidelity Adv High Income Advantage Class A Mutual Fund | — | — | $35K | $41K | 0.8% | |
| Depreciation and amortization | — | — | $44K | $39K | 0.8% | |
| Fidelity Adv Government Income Class A Mutual Fund | — | — | $41K | $37K | 0.7% | |
| Fidelity Adv Short Term Bond Class A Mutual Fund | — | — | $31K | $31K | 0.6% | |
| Administrative costs | — | — | $35K | $28K | 0.5% | |
| Repairs and maintenance | — | — | $18K | $16K | 0.3% | |
| Transocean Ltd Common Stock 283 38 Viatris Inc Common Stock 109 75 W Grainger Inc Common Stock 606 | — | — | — | $12K | 0.2% | |
| Acco Brands Corp Common Stock 47 Advanced Micro Devices Common Stock | — | — | $1K | $10K | 0.2% | |
| Warner Bros Discovery Inc Ser Common Stock 32 Waters Corp Common Stock | — | — | $1K | $10K | 0.2% | |
| Fastenal Co Common Stock 856 | — | — | — | $9K | 0.2% | |
| Goldman Sachs Group Common Stock | — | — | $1K | $9K | 0.2% | |
| Rent | — | — | $7K | $8K | 0.2% | |
| Norfolk Southern Corp Common Stock 706 | — | — | — | $7K | 0.1% | |
| WalMart Common Stock | — | — | $1K | $7K | 0.1% | |
| Conferences, meetings and seminars | — | — | $9K | $6K | 0.1% | |
| Gilead Science Common Stock 464 | — | — | — | $6K | 0.1% | |
| Caterpillar Inc Common Stock 619 | — | — | — | $6K | 0.1% | |
| Proctor & Gamble Common Stock | — | — | $1K | $5K | <0.1% | |
| Macys Inc Common Stock 575 372 Marriott Intl Inc Common Stock 425 | — | — | — | $5K | <0.1% | |
| Cisco Sys Inc Common Stock | — | — | $1K | $4K | <0.1% | |
| Archer Daniels Midland Common Stock | — | — | $1K | $4K | <0.1% | |
| Occidental Petroleum Corp De (OXY) Common Stock 198 Organon & Co. Common Stock 30 Paypal Holdings Inc Com Common Stock | — | — | $1K | $4K | <0.1% | |
| Target Corporation Common Stock 818 | — | — | — | $3K | <0.1% | |
| Marriott Vacations Worldwide (Vac) Common Stock 90 Masco Corp Common Stock | — | — | $1K | $3K | <0.1% | |
| Hanesbrand Inc Common Stock 98 Ingevity Corp Common Stock 122 Johnson & Johnson Common Stock | — | — | $1K | $3K | <0.1% | |
| Ebay Inc Common Stock 678 | — | — | — | $3K | <0.1% | |
| Dental benefits 280 | — | — | — | $3K | <0.1% | |
| Microchip Technology Inc Common Stock 432 | — | — | — | $2K | <0.1% | |
| Merck & Co Common Stock 842 | — | — | — | $2K | <0.1% | |
| L-3 Harris Technologies Inc Common Stock 428 | — | — | — | $2K | <0.1% | |
| Allstate Corp Common Stock 423 | — | — | — | $2K | <0.1% | |
| Topbuild Corp Com Common Stock 150 | — | — | — | $2K | <0.1% | |
| AT&T Inc Common Stock 293 342 Bunge Ltd Common Stock 650 | — | — | — | $1K | <0.1% | |
| Electronic Arts Inc Common Stock 483 | — | — | — | $1K | <0.1% | |
| Pfizer Inc Common Stock | — | — | $2K | $1K | <0.1% | |
| Estee Lauder Co Common Stock 424 | — | — | — | $1K | <0.1% | |
| Analog Devices Inc Common Stock 498 | — | — | — | $1K | <0.1% | |
| Smurfit Westrock LTD (SW) Common Stock | — | — | $1K | $1K | <0.1% | |
| Zimmer Holdings Inc Common Stock 884 | — | — | — | $1K | <0.1% |
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