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Original filing (PDF)20250730155534NAL0002513539002
BOARD OF TRUSTEES LOCAL 456 MUNICIPAL WELFARE FUND
Form 5500
FILING_RECEIVED
TEAMSTERS LOCAL 456 MUNICIPAL EMPLOYEES WELFARE FUND
Health & welfare plan
Signals · 4
39% in single holding~135 bps in Sched C feesNo recordkeeper disclosed9 service providers
Active participants
1,559
Accounts w/ balance
—
Plan assets (EOY)
$29.7M
Net assets (EOY)
$26.5M
How this plan invests
This plan
56 securities
funds · stocks · CUSIPs
Holdings are itemized directly on this plan's Schedule of Assets, below.
Plan health score (directional)
84
/ 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
100
Concentration risk
80
Total plan cost
65
Vendor stack
68
Participation health
100
Knocking points off
- Top holding "LORD ABBETT TOTAL RETURN" is 39% of plan.
- 135 bps in Schedule C fees — 365% above peer band of 29 bps.
- No recordkeeper disclosed on Schedule C.
- Highly fragmented vendor stack (9 disclosed providers, 5 categories).
Decision-maker contacts
CFO / Head of HR / Benefits Manager — verified email + LinkedIn for BOARD OF TRUSTEES LOCAL 456 MUNICIPAL WELFARE FUND.
Plan sponsor
Name
BOARD OF TRUSTEES LOCAL 456 MUNICIPAL WELFARE FUND
EIN
13-6804536
Address
160 SOUTH CENTRAL AVENUE · ELMSFORD, NY · 10523
Phone
(914) 592-9330
Industry
Transportation & Warehousingsee 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
2025-07-30
Welfare benefit codes
4D · Dental
4E · Vision
4F · Temporary Disability (accident and sickness)
4G · Prepaid Legal
4I · Severance Pay
4L · Death Benefits (other than life insurance)
4Q · Other
Audit & trust (Schedule H)
Auditor
CITRIN COOPERMAN & COMPANY, LLP
Trustee / custodian
—
Trustee phone
—
Service providers (Schedule C)
9 rowsCustodian
1| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| MERRILL LYNCH | 13-5674085 | LATHAM, NY | INV. CUSTODIAN/MANAGER | $131K | — |
Advisor / Consultant
3| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| LOWER HUDSON VALLEY E.A.P. | 13-3240307 | YORKTOWN HEIGHTS, NY | MEDICAL CONSULTANT | $44K | — |
| THEODOR H. BROWN DDS | 13-3043628 | PALM BEACH GARDENS, FL | DENTAL CONSULTANT | $29K | — |
| TPA CORPORATION | 13-3329882 | CARMEL, NY | COMPUTER CONSULTANT | $12K | — |
Accountant / Auditor
2| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| CITRIN COOPERMAN & COMPANY, LLP | 22-2428965 | JERICHO, NY | ACCOUNTANT | $23K | — |
| CITRIN COOPERMAN ADVISORS LLC | 87-2525370 | MCLEAN, VA | ACCOUNTANT | $21K | — |
Actuary
1| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| BOLTON PARTNERS NORTHEAST, INC. | 27-3666661 | MT. LAUREL, NJ | ACTUARY | $24K | — |
Legal counsel
2| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| BAMUNDO, ZWAL & SCHERMERHORN LLP | 02-0534303 | NEW YORK, NY | LEGAL BENEFITS | $80K | — |
| BLITMAN & KING LLP | 16-1047304 | SYRACUSE, NY | LEGAL | $37K | — |
Investments
56 direct securities· $29.1M(98% of reported assets)
| PI | Investment | Type | Shares / units | Cost | Current value | % of plan |
|---|---|---|---|---|---|---|
| LORD ABBETT TOTAL RETURN | — | 1,313,046 | $11.7M | $11.4M | 38.2% | |
| ISHARES CORE S&P 500 ETF | — | 18,023 | $5.5M | $10.6M | 35.7% | |
| VANGUARD VALUE ETF | — | 25,956 | $3.3M | $4.4M | 14.8% | |
| U.S. TREASURY NOTE | — | 258,000 | $264K | $254K | 0.9% | |
| FHLMC SB 8328 05 50%2039 | — | 147,000 | $132K | $130K | 0.4% | |
| FHLMC SB 1215 06%2039 | — | 151,000 | $131K | $130K | 0.4% | |
| FHLMC SB 8327 05%2039 | — | 116,000 | $110K | $108K | 0.4% | |
| FNMA PMA5507 05%2039 | — | 110,000 | $102K | $101K | 0.3% | |
| FHLMC SB 8353 05 50%2040 | — | 85,000 | $86K | $86K | 0.3% | |
| U.S. TREASURY NOTE | — | 86,000 | $87K | $85K | 0.3% | |
| JPMORGAN CHASE & CO | — | 64,000 | $66K | $66K | 0.2% | |
| BROADCOM INC | — | 58,000 | $58K | $59K | 0.2% | |
| CITIGROUP INC | — | 57,000 | $58K | $57K | 0.2% | |
| ARTHUR J GALLAGHER & CO | — | 57,000 | $57K | $57K | 0.2% | |
| FORD MOTOR COMPANY | — | 57,000 | $56K | $56K | 0.2% | |
| UBER TECHNOLOGIES INC | — | 57,000 | $57K | $55K | 0.2% | |
| PNC FINANCIAL SERVICES | — | 54,000 | $54K | $54K | 0.2% | |
| AMERICAN TOWER CORP | — | 53,000 | $54K | $54K | 0.2% | |
| WARNERMEDIA HOLDINGS INC | — | 54,000 | $54K | $54K | 0.2% | |
| CHARTER COMM OPT LLC/CAP | — | 53,000 | $53K | $54K | 0.2% | |
| LPL HOLDINGS INC | — | 51,000 | $53K | $54K | 0.2% | |
| THERMO FISHER SCIENTIFIC | — | 53,000 | $53K | $53K | 0.2% | |
| US BANCORP | — | 51,000 | $52K | $53K | 0.2% | |
| TARGA RESOURCES PARTNERS | — | 52,000 | $53K | $52K | 0.2% | |
| GOLDMAN SACHS GROUP INC | — | 49,000 | $50K | $51K | 0.2% | |
| NETFLIX,INC | — | 51,000 | $51K | $51K | 0.2% | |
| MORGAN STANLEY | — | 49,000 | $50K | $51K | 0.2% | |
| U.S. TREASURY NOTE | — | 51,000 | $51K | $50K | 0.2% | |
| AMAZON.COM INC | — | 50,000 | $50K | $50K | 0.2% | |
| WELLS FARGO & COMPANY | — | 50,000 | $51K | $50K | 0.2% | |
| SPRINT CAP CORP | — | 47,000 | $49K | $50K | 0.2% | |
| TRUIST FINANCIAL CORP | — | 46,000 | $46K | $47K | 0.2% | |
| CARVANA AUTO RE ABS 2021 | — | 61,000 | $47K | $46K | 0.2% | |
| TOYOTA AUTO REC ABS 2022 | — | 64,000 | $44K | $45K | 0.2% | |
| HONDA AUTO RECE ABS 2023 | — | 41,000 | $40K | $41K | 0.1% | |
| FIRST NATIONAL ABS 2023 | — | 39,000 | $40K | $40K | 0.1% | |
| WORLD FINANCIAL ABS 2023 | — | 36,000 | $36K | $36K | 0.1% | |
| CATERPILLAR FINL SERVICE | — | 29,000 | $29K | $29K | <0.1% | |
| AMERICREDIT AUT ABS 2021 | — | 61,000 | $28K | $29K | <0.1% | |
| HCA INC | — | 28,000 | $28K | $29K | <0.1% | |
| ACCENTURE CAPITAL INC | — | 29,000 | $29K | $28K | <0.1% | |
| GENERAL MOTORS CO | — | 27,000 | $27K | $27K | <0.1% | |
| PHILIP MORRIS INTL INC | — | 26,000 | $26K | $26K | <0.1% | |
| NEXTERA ENERGY CAPITAL | — | 26,000 | $26K | $26K | <0.1% | |
| CAPITAL ONE MUL ABS 2022 | — | 26,000 | $26K | $26K | <0.1% | |
| MERCEDES-BENZ A ABS 2021 | — | 26,000 | $25K | $25K | <0.1% | |
| AMGEN INC | — | 25,000 | $25K | $25K | <0.1% | |
| SANTANDER DRIVE ABS 2023 | — | 27,000 | $24K | $24K | <0.1% | |
| DRIVE AUTO RECE ABS 2021 | — | 30,000 | $21K | $21K | <0.1% | |
| CAPITAL ONE PRI ABS 2022 | — | 29,000 | $19K | $20K | <0.1% | |
| GM FINANCIAL CO ABS 2022 | — | 31,000 | $18K | $18K | <0.1% | |
| BMW VEHICLE OWN ABS 2022 | — | 50,000 | $16K | $16K | <0.1% | |
| ALLY AUTO RECEI ABS 2022 | — | 48,000 | $16K | $16K | <0.1% | |
| SANTANDER DRIVE ABS 2023 | — | 11,000 | $11K | $11K | <0.1% | |
| SANTANDER DRIVE ABS 2021 | — | 2,000 | $1K | $1K | <0.1% | |
| HONDA AUTO RECE ABS 2023 | — | 1,000 | $998 | $1K | <0.1% |