Original filing (PDF)20260316190935NAL0001309539001

PLUMBERS AND STEAMFITTERS LOCAL NO. 7 WELFARE FUND

Name: PLUMBERS AND STEAMFITTERS LOCAL NO. 7 WELFARE FUND — UNITED ASSOCIATION LOCAL NO. 7 WELFARE FUND, Form 5500 (2024)
Creator: PLUMBERS AND STEAMFITTERS LOCAL NO. 7 WELFARE FUND

Form 5500

FILING_RECEIVED

UNITED ASSOCIATION LOCAL NO. 7 WELFARE FUND

Health & welfare plan

Signals · 3

~122 bps in Sched C feesNo recordkeeper disclosed16 service providers

Active participants

858

Accounts w/ balance

—

Plan assets (EOY)

$99.1M

Net assets (EOY)

$97.3M

How this plan invests

This plan

196 securities

funds · stocks · CUSIPs

Holdings are itemized directly on this plan's Schedule of Assets, below.

Plan health score (directional)

/ 100

Grade A

Top-tier plan health

Directional indicator computed from public Form 5500 data — compliance, concentration, cost, vendor stack and participation. Not a fiduciary tool.

Compliance & disclosures

100

Concentration risk

100

Total plan cost

Vendor stack

Participation health

100

Knocking points off

122 bps in Schedule C fees — 664% above peer band of 16 bps.
No recordkeeper disclosed on Schedule C.

Decision-maker contacts

CFO / Head of HR / Benefits Manager — verified email + LinkedIn for PLUMBERS AND STEAMFITTERS LOCAL NO. 7 WELFARE FUND.

Plan sponsor

Name

PLUMBERS AND STEAMFITTERS LOCAL NO. 7 WELFARE FUND

EIN

14-6029930

Address

18 AVIS DRIVE · LATHAM, NY · 121102605

Phone

(518) 785-3440

Industry

Plumbing, Heating, AC Contractors· Constructionsee all

Plan administrator

Same as plan sponsor.

Plan characteristics

Plan number

501

Plan year

2024

Plan year begin

2024-06-01

Tax period

2025-05-31

Filed

2026-03-16

Welfare benefit codes

4A · Health (other than dental or vision)

4B · Life Insurance

4C · Supplemental Unemployment

4D · Dental

4E · Vision

4F · Temporary Disability (accident and sickness)

4L · Death Benefits (other than life insurance)

Audit & trust (Schedule H)

Auditor

MENGEL, METZGER, BARR & CO. LLP

Trustee / custodian

—

Trustee phone

—

Service providers (Schedule C)

16 rows

Other

Name	EIN	Location	Relation	Direct comp	Indirect comp
CAPITAL DISTRICT PHYSICIANS HEALTH	14-1745298	ALBANY, NY	NONE	$468K	—
EXPRESS SCRIPTS	43-1420563	ST. LOUIS, MO	NONE	$129K	—
RETIREE FIRST	06-1750191	MT LAUREL, NJ	NONE	$83K	—
RYAN HEIMROTH	14-6029930	LATHAM, NY	EMPLOYEE	$76K	—
NEW CENTURY ADVISORS	27-0004136	CHEVY CHASE, MD	NONE	$61K	—
SILVERCREST ASSET MANAGEMENT GROUP	13-4194623	NEW YORK, NY	NONE	$61K	—
BOLTON PARTNERS NORTHEAST, INC.	27-3666661	MT LAUREL, NJ	NONE	$53K	—
LESLIE A. VANDENBURGH-BALDWIN	14-6029930	LATHAM, NY	EMPLOYEE	$45K	—
TRACEY REX	14-6029930	LATHAM, NY	EMPLOYEE	$45K	—
BLITMAN & KING	16-1047304	LATHAM, NY	NONE	$44K	—
INCOME RESEARCH + MANAGEMENT	04-2955404	BOSTON, MA	NONE	$44K	—
MENGEL, METZGER, BARR, AND CO.,	16-1092347	LATHAM, NY	NONE	$41K	—
DELTA DENTAL SERVICES	11-1980218	MECHANICSBURG, PA	NONE	$28K	—
MPC CAPITAL ADVISORS LLC	27-2136582	NEW YORK, NY	NONE	$22K	—
US BANK	31-0841368	PHILADELPHIA, PA	NONE	$10K	—
WESTWOOD MANAGMENT CORP.	13-3160186	—	NONE	$0	—

Investments

195 direct securities· $94.4M(95% of reported assets)

Uncategorized

$88.7M

194 holdings

Mutual Funds

$5.7M

1 holding

Investment	Type	Shares / units	Cost	Current value	% of plan
LIMITED PARTNERSHIPS 1,516,463.5850 Income Research & Management Short Fund	—	—	$16.5M	$20.5M	20.7%
1,084,434.5140 BNY MELLON AFL-CIO	—	—	$14.7M	$18.3M	18.5%
S 332,572.1930 MONDRAIN	Mutual Funds	—	$3.8M	$5.7M	5.7%
465,828.8130 Westwood Income Opportunity Fund	—	—	$711K	$5.5M	5.6%
297,288.9800 Vanguard Developed Markets Admiral Fund	—	—	$350K	$5.3M	5.4%
156,673.8670 Robeco Boston Small Cap Value Fund II	—	—	$1.1M	$4.0M	4.0%
U S TREASURY NT 3.625% 5/15/28	—	—	$3.8M	$3.8M	3.8%
139,107.0180 Fidelity Small Cap Index Fund (OPEN 09/2024)	—	—	$3.8M	$3.6M	3.6%
279,875.6770 PIMCO Dynamic Bond Fund Inst. (OPEN 09/2024)	—	—	$2.8M	$2.8M	2.8%
U S TREASURY NT 4.000% 5/31/30	—	—	$1.7M	$1.7M	1.7%
U S TREASURY NT 3.875% 4/30/30	—	—	$1.1M	$1.1M	1.1%
U S TREASURY NT 4.250% 1/31/30	—	—	$884K	$901K	0.9%
F C B DEB 5.310% 9/25/35	—	—	$325K	$323K	0.3%
US FOODS HOLDING CORP	—	—	$179K	$308K	0.3%
F H L M C #SD6320 5.500% 8/01/54	—	—	$276K	$270K	0.3%
G N M A GTD REMIC 5.500% 10/20/33	—	—	$270K	$268K	0.3%
FIRST AM GOVT OB FD CL Z	—	—	$266K	$266K	0.3%
BWX TECHNOLOGIES INC	—	—	$200K	$256K	0.3%
ABBOTT LABS COM	—	—	$143K	$252K	0.3%
BENCHMARK MTG TR 5.8963% 7/17/56	—	—	$242K	$247K	0.2%
AMETEK INC	—	—	$92K	$237K	0.2%
F H L M C #QJ8167 5.500% 11/01/54	—	—	$234K	$234K	0.2%
CORE MAIN INC CL A	—	—	$130K	$226K	0.2%
PNC FINL SVCS GROUP INC COM	—	—	$125K	$224K	0.2%
FIRST AM GOVT OB FD CL Z	—	—	$223K	$223K	0.2%
WILLIAMS COS INC COM	—	—	$97K	$222K	0.2%
DELTA AIR LINES INC	—	—	$170K	$220K	0.2%
AMERIPRISE FINL INC	—	—	$26K	$218K	0.2%
BROADCOM INC	—	—	$39K	$218K	0.2%
CADENCE BANK COM	—	—	$166K	$218K	0.2%
CITIGROUP INC	—	—	$181K	$213K	0.2%
ARCOSA INC	—	—	$218K	$213K	0.2%
CASELLA WASTE SYSTEMS INC A	—	—	$71K	$206K	0.2%
CARLISLE COS INC	—	—	$133K	$203K	0.2%
MARTIN MARIETTA MATLS INC	—	—	$87K	$203K	0.2%
BRIDGECREST LD AUTO 6.940% 8/15/29	—	—	$200K	$202K	0.2%
INTERNATIONAL BK FOR 5.670% 2/01/34	—	—	$200K	$201K	0.2%
MAY 31, 2025 (a) Shares (b) Identity of issue, borrower, lessor, or similar party (d) Cost (e) Current Value FOREIGN BONDS 200,000.0000 INTL BK 5.750% 8/26/33	—	—	$200K	$200K	0.2%
F H L B DEB 5.590% 7/11/31	—	—	$201K	$200K	0.2%
WELLS FARGO MTN 4.540% 8/15/26	—	—	$200K	$200K	0.2%
F C B DEB 5.340% 9/13/32	—	—	$200K	$200K	0.2%
F C B DEB 5.500% 12/18/34	—	—	$199K	$199K	0.2%
FNMA DC8823 5.500% 12/01/54	—	—	$197K	$197K	0.2%
F H L M C MLTCL MTG 5.000% 9/25/51	—	—	$196K	$196K	0.2%
GLACIER BANCORP INC NEW	—	—	$222K	$195K	0.2%
FNMA BU5051 5.500% 9/01/54	—	—	$198K	$195K	0.2%
FNMA REMIC TRUST 4.61583% 8/25/39	—	—	$189K	$193K	0.2%
FHLMC QJ5386 5.500% 10/01/54	—	—	$194K	$191K	0.2%
MORGAN STANLEY 3.809% 12/15/48	—	—	$199K	$191K	0.2%
MATADOR RESOURCES CO	—	—	$111K	$188K	0.2%
FIDELITY NATIONAL INFO SERV	—	—	$190K	$187K	0.2%
F C B DEB 5.840% 7/03/34	—	—	$185K	$185K	0.2%
WASTE CONNECTIONS INC	—	—	$67K	$185K	0.2%
CISCO SYSTEMS INC	—	—	$85K	$184K	0.2%
F N M A #AN6905 2.830% 10/01/27	—	—	$179K	$184K	0.2%
SYNNEX CORP	—	—	$154K	$179K	0.2%
ATMOS ENERGY CORP	—	—	$92K	$178K	0.2%
MICROSOFT CORP COM	—	—	$33K	$177K	0.2%
BANK5 2023-5YR2 0.00001% 7/17/56	—	—	$172K	$177K	0.2%
META PLATFORMS INC	—	—	$90K	$176K	0.2%
FNMA CB9218 6.000% 9/01/54	—	—	$176K	$174K	0.2%
SYNOVUS FINANCIAL CORP	—	—	$177K	$171K	0.2%
MARSH MCLENNAN COS INC	—	—	$43K	$171K	0.2%
RAYMOND JAMES FINL INC	—	—	$109K	$170K	0.2%
HOME DEPOT INC	—	—	$29K	$169K	0.2%
CARDINAL HEALTH INC	—	—	$146K	$165K	0.2%
BORGWARNER INC COM	—	—	$178K	$164K	0.2%
STRYKER CORP	—	—	$41K	$163K	0.2%
F H L M C #QJ5991 5.500% 10/01/54	—	—	$164K	$162K	0.2%
SERVICE CORP INTL COM	—	—	$162K	$158K	0.2%
MID AMER APT CMNTYS INC	—	—	$68K	$158K	0.2%
BMO 2023 5C1 MTG 6.534% 8/17/56	—	—	$155K	$157K	0.2%
MONDELEZ INTL INC CL A	—	—	$99K	$153K	0.2%
ELEMENT SOLUTIONS INC	—	—	$149K	$152K	0.2%
MAY 31, 2025 (a) Shares (b) Identity of issue, borrower, lessor, or similar party (d) Cost (e) Current Value EQUITIES 876.0000 ALPHABET INC CL C	—	—	$27K	$151K	0.2%
F C B DEB 5.800% 6/12/34	—	—	$150K	$150K	0.2%
FEDERAL HOME LOAN BA 5.400% 11/21/34	—	—	$150K	$149K	0.2%
SIMPLY GOOD FOODS COMPANY	—	—	$154K	$145K	0.1%
F H L M C MLTCL MTG 5.000% 7/25/48	—	—	$143K	$144K	0.1%
KBR INC	—	—	$156K	$141K	0.1%
WILLSCOT HLDGS CORP COM CL A	—	—	$211K	$141K	0.1%
F C B DEB 5.420% 8/12/33	—	—	$140K	$140K	0.1%
F C B DEB 5.050% 1/18/28	—	—	$139K	$139K	0.1%
F N M A #MA4840 4.500% 11/01/52	—	—	$137K	$136K	0.1%
CVS HEALTH CORP	—	—	$115K	$135K	0.1%
FEDERAL HOME LOAN BA 5.380% 3/06/35	—	—	$135K	$133K	0.1%
ORACLE CORPORATION	—	—	$64K	$133K	0.1%
FRESB MULTIFAMILY 2.950% 8/25/27	—	—	$129K	$130K	0.1%
AVERY DENNISON CORP	—	—	$128K	$128K	0.1%
FHLMC QJ3507 5.500% 9/01/54	—	—	$130K	$127K	0.1%
F H L B DEB 5.600% 12/27/34	—	—	$125K	$125K	0.1%
FNMA BU4995 5.000% 10/01/54	—	—	$126K	$123K	0.1%
LITTELFUSE INC	—	—	$60K	$122K	0.1%
WELLS FAR COM MRT TR 2.499% 11/15/54	—	—	$116K	$121K	0.1%
FEDERAL FARM CR BKS 5.670% 8/27/35	—	—	$120K	$120K	0.1%
LANTHEUS HOLDINGS INC	—	—	$142K	$119K	0.1%
GE HEALTHCARE TECHNOLOGIES INC	—	—	$147K	$119K	0.1%
FNMA DB8491 5.500% 7/01/54	—	—	$119K	$117K	0.1%
TEMPORARY FUNDS FIRST AM GOVT OB FD CL Z	—	—	$115K	$115K	0.1%
GS MORTGAGE 3.506% 10/10/48	—	—	$117K	$114K	0.1%
G N M A I #785141 3.000% 8/20/50	—	—	$112K	$113K	0.1%
BANK 1.874% 6/17/64	—	—	$108K	$113K	0.1%
FHLMC RA7609 5.000% 7/01/52	—	—	$110K	$112K	0.1%
F H L M C #QE2908 3.500% 5/01/52	—	—	$107K	$106K	0.1%
O G RES INC	—	—	$61K	$105K	0.1%
BK OF AMERICA MTN 4.827% 7/22/26	—	—	$105K	$105K	0.1%
NETSTREIT CORP	—	—	$115K	$104K	0.1%
TARGET CORP COM	—	—	$135K	$102K	0.1%
CHEVRON CORPORATION	—	—	$71K	$101K	0.1%
FEDERAL FARM CR BKS 5.570% 8/26/33	—	—	$100K	$100K	0.1%
F A M C 5.600% 8/15/34	—	—	$100K	$100K	0.1%
F C B DEB 5.230% 8/20/32	—	—	$100K	$100K	0.1%
F H L M C #WN2449 4.250% 6/01/28	—	—	$97K	$99K	0.1%
FEDERAL FARM CR BKS 5.340% 8/26/33	—	—	$100K	$99K	0.1%
WELLS FARGO 3.560% 1/15/59	—	—	$103K	$99K	<0.1%
EXETER AUTO REC 6.360% 9/15/27	—	—	$98K	$98K	<0.1%
GS MORTGAGE 3.442% 11/10/49	—	—	$103K	$98K	<0.1%
F H L M C MLTCL MTG 5.000% 3/25/52	—	—	$97K	$97K	<0.1%
FRESB MULTIFAMILY 3.75254% 9/25/28	—	—	$96K	$97K	<0.1%
BMO MTG TR 5.28642% 2/17/56	—	—	$96K	$96K	<0.1%
F H L B DEB 5.910% 6/24/33	—	—	$90K	$90K	<0.1%
FEDERAL FARM CR BKS 5.330% 8/19/32	—	—	$90K	$90K	<0.1%
BENCHMARK MORTGAGE 4.84942% 8/17/57	—	—	$86K	$86K	<0.1%
FULLER H B CO	—	—	$80K	$86K	<0.1%
F C B DEB 5.840% 7/17/34	—	—	$85K	$85K	<0.1%
F N M A #DB4388 5.500% 5/01/54	—	—	$84K	$84K	<0.1%
G N M A I #MA8458 4.000% 12/20/37	—	—	$84K	$83K	<0.1%
BENCHMARK MTG TR 6.7924% 7/17/56	—	—	$82K	$83K	<0.1%
BNK 2021 BNK37 2.513% 11/18/64	—	—	$88K	$82K	<0.1%
BENCHMARK MTG TR 2.588% 12/17/54	—	—	$88K	$82K	<0.1%
WEC ENERGY GROUP INC 5.000% 9/27/25	—	—	$80K	$80K	<0.1%
EXETER AUTOMOBILE 6.310% 10/15/27	—	—	$79K	$78K	<0.1%
FHLMC REMIC SERIES 5.000% 8/25/51	—	—	$78K	$78K	<0.1%
BRUNSWICK CORP COM	—	—	$81K	$77K	<0.1%
FHLMC MLTCL MTG 5.000% 2/25/52	—	—	$74K	$74K	<0.1%
AVANTOR INC	—	—	$121K	$73K	<0.1%
FHLMC MLTCL MTG 4.500% 10/25/51	—	—	$73K	$73K	<0.1%
F N M A GTD REMIC 5.000% 9/25/48	—	—	$72K	$72K	<0.1%
3650R 2022-PF2 5.46689% 11/18/55	—	—	$71K	$72K	<0.1%
Shares (b) Identity of issue, borrower, lessor, or similar party (d) Cost (e) Current Value 72,192.2900 F N M A #MA5005 4.000% 3/01/33	—	—	$71K	$71K	<0.1%
F N M A GTD REMIC 5.000% 6/25/52	—	—	$68K	$67K	<0.1%
FHLMC QF7121 5.500% 2/01/53	—	—	$67K	$66K	<0.1%
UBS COMMERCIAL 3.0352% 12/15/52	—	—	$71K	$65K	<0.1%
FHLMC REMIC SERIES 5.000% 2/25/52	—	—	$64K	$64K	<0.1%
F N M A GTD REMIC 5.000% 2/25/51	—	—	$62K	$62K	<0.1%
MAY 31, 2025 (a) Shares (b) Identity of issue, borrower, lessor, or similar party (d) Cost (e) Current Value CORPORATE BONDS 65,000.0000 BBCMS MTG TR 2021 2.541% 11/18/54	—	—	$67K	$61K	<0.1%
BENCHMARK MTG TR 3.976% 7/17/51	—	—	$60K	$60K	<0.1%
U S TREASURY NT 3.750% 4/15/28	—	—	$60K	$60K	<0.1%
FHLMC REMIC SERIES 5.000% 11/25/51	—	—	$60K	$60K	<0.1%
ENSTAR FINANCE L P 5.500% 1/15/42	—	—	$58K	$58K	<0.1%
MORGAN STANLEY CAP 2.206% 10/19/54	—	—	$62K	$56K	<0.1%
S B A GTD DEV PART 3.34718% 2/01/34	—	—	$62K	$56K	<0.1%
F N M A #FM3989 2.500% 8/01/50	—	—	$70K	$56K	<0.1%
SYNOVUS BK COLUMBUS 4.000% 10/29/30	—	—	$58K	$54K	<0.1%
S B A GTD DEV PART 2.980% 7/01/37	—	—	$58K	$51K	<0.1%
BANK 4.074% 8/15/61	—	—	$48K	$48K	<0.1%
BMO 2.950% 2/15/55	—	—	$49K	$45K	<0.1%
SMALL BUSINESS 3.540% 7/01/38	—	—	$49K	$43K	<0.1%
BANK 2023 0.00001% 2/17/56	—	—	$43K	$43K	<0.1%
BMO MORTGAGE TR 7.29632% 11/17/56	—	—	$41K	$43K	<0.1%
FNMA DC0900 5.500% 8/01/54	—	—	$43K	$42K	<0.1%
ELEVANCE HEALTH INC 4.900% 2/08/26	—	—	$40K	$40K	<0.1%
MORGAN STANLEY 3.779% 5/15/48	—	—	$37K	$38K	<0.1%
GS MTG SECS TR 2.6366% 12/17/54	—	—	$41K	$37K	<0.1%
F N M A GTD REMIC 5.99739% 12/25/49	—	—	$29K	$30K	<0.1%
CSAIL COML MTG TR 3.1908% 11/17/50	—	—	$32K	$29K	<0.1%
MORGAN STANLEY BAML 3.306% 4/17/48	—	—	$30K	$29K	<0.1%
JPMCC COML MTG SEC 3.3785% 9/16/50	—	—	$28K	$28K	<0.1%
CD COMMERCIAL 3.104% 11/13/50	—	—	$28K	$28K	<0.1%
FHLMC SA0037 4.000% 12/01/32	—	—	$25K	$25K	<0.1%
F N M A #AS8739 3.000% 2/01/37	—	—	$27K	$24K	<0.1%
F H L M C GD G18472 2.500% 7/01/28	—	—	$23K	$23K	<0.1%
CASCADE FUNDING 4.000% 2/25/37	—	—	$22K	$23K	<0.1%
STORE CAP CORP 2.750% 11/18/30	—	—	$20K	$22K	<0.1%
F H L M C GD G31177 6.000% 1/01/29	—	—	$15K	$15K	<0.1%
F N M A #AL6406 6.000% 10/01/39	—	—	$15K	$14K	<0.1%
SANTANDER DR AUT 4.720% 6/15/27	—	—	$12K	$13K	<0.1%
DEUTSCHE BANK 3.269% 6/10/50	—	—	$11K	$11K	<0.1%
CARVANA AUTO RECB 0.700% 1/10/28	—	—	$10K	$11K	<0.1%
BENCHMARK MTG TR 4.1485% 1/18/52	—	—	$10K	$10K	<0.1%
F N M A #984280 6.000% 6/01/38	—	—	$9K	$8K	<0.1%
G N M A I #MA4074 6.000% 3/20/39	—	—	$8K	$8K	<0.1%
SMALL BUSINESS 2.507% 3/10/26	—	—	$7K	$7K	<0.1%
F H L M C MLTCL MTG 3.000% 6/15/44	—	—	$7K	$6K	<0.1%
F N M A #BE6641 4.000% 6/01/47	—	—	$7K	$6K	<0.1%
transaction $47,043 N/A $41,197 N/A	—	—	—	$6K	<0.1%
G N M A I #MA4009 6.000% 9/20/38	—	—	$6K	$6K	<0.1%
F N M A #AL6316 5.000% 1/01/35	—	—	$6K	$5K	<0.1%
G N M A I #MA2141 4.500% 8/20/44	—	—	$6K	$5K	<0.1%
F N M A #BE7845 4.500% 2/01/47	—	—	$4K	$3K	<0.1%
F N M A #AL5579 3.000% 5/01/29	—	—	$3K	$3K	<0.1%
COMM MORTGAGE TRUST 3.694% 8/10/47	—	—	$3K	$3K	<0.1%
F H L M C GD G30456 5.500% 1/01/29	—	—	$2K	$2K	<0.1%
G N M A GTD REMIC 2.000% 2/20/43	—	—	$2K	$2K	<0.1%
Sponsor's name 4d PN c Plan Name 5 Total number of participants at the beginning of the plan year 5	—	—	—	$1K	<0.1%