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Original filing (PDF)20251009140200NAL0003632243001
BOARD OF TRUSTEES SHEET METAL WORKERS LOCAL 112 WELFARE FUND
Form 5500
FILING_RECEIVED
SHEET METAL WORKERS LOCAL 112 WELFARE FUND
Health & welfare plan
Signals · 3
~137 bps in Sched C feesNo recordkeeper disclosed8 service providers
Active participants
233
Accounts w/ balance
—
Plan assets (EOY)
$14.0M
Net assets (EOY)
$13.9M
How this plan invests
This plan
71 securities
funds · stocks · CUSIPs
Holdings are itemized directly on this plan's Schedule of Assets, below.
Plan health score (directional)
88
/ 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
65
Vendor stack
68
Participation health
100
Knocking points off
- 137 bps in Schedule C fees — 372% above peer band of 29 bps.
- No recordkeeper disclosed on Schedule C.
- Highly fragmented vendor stack (8 disclosed providers, 6 categories).
Decision-maker contacts
CFO / Head of HR / Benefits Manager — verified email + LinkedIn for BOARD OF TRUSTEES SHEET METAL WORKERS LOCAL 112 WELFARE FUND.
Plan sponsor
Name
BOARD OF TRUSTEES SHEET METAL WORKERS LOCAL 112 WELFARE FUND
EIN
16-6052225
Address
PO BOX 1146 · ELMIRA, NY · 149021146
Phone
(607) 733-3732
Industry
Manufacturingsee 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
2025-10-09
Welfare benefit codes
4A · Health (other than dental or vision)
4D · Dental
4E · Vision
Audit & trust (Schedule H)
Auditor
MENGEL METZGER BARR & CO LLP
Trustee / custodian
—
Trustee phone
—
Service providers (Schedule C)
8 rowsAdvisor / Consultant
1| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| MORGAN STANLEY SMITH BARNEY LLC | 11-3658445 | — | INVESTMENT ADVISOR | $36K | — |
TPA / Administrator
1| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| BENEFIT RESOURCE LLC | 16-1428488 | — | CONTRACT ADMINISTRATOR | $11K | — |
Accountant / Auditor
2| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| MENGEL, METZGER, BARR & CO. LLP | 16-1092347 | — | AUDITOR | $17K | — |
| JUDITH J GUSH | 47-2595681 | — | OUTSIDE ACCOUNTANT | $8K | — |
Actuary
1| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| OSULLIVAN ASSOCIATES | 22-1837827 | — | ACTUARY | $6K | — |
Insurance
1| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| EXCELLUS BLUE CROSS BLUE SHIELD | 15-0329043 | — | INSURANCE CARRIER | $11K | — |
Other
2| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| M SCAPTURA | 16-6052225 | — | EMPLOYEE | $82K | — |
| SHEET METAL WORKERS LOCAL 112 | 16-0578131 | — | ADMINISTRATION | $21K | — |
Investments
70 direct securities· $16.4M(100% of reported assets)
Uncategorized
$16.2M
69 holdings
Corporate Bonds
$115K
1 holding
| PI | Investment | Type | Shares / units | Cost | Current value | % of plan |
|---|---|---|---|---|---|---|
| Certificate of deposit Chemung Canal Trust Company, interest rate of 4.18% | — | — | $1.2M | $1.2M | 8.7% | |
| Chemung Canal Trust Company Purchase of certificate of deposit | — | — | $1.2M | $1.2M | 8.5% | |
| Selling $ - (c) price | — | — | — | $1.2M | 8.5% | |
| $ (g) asset | — | — | — | $1.2M | 8.5% | |
| - (i) Net gainor (loss) $ (h) date | — | — | — | $1.2M | 8.5% | |
| Chemung Canal Trust Company | — | — | $1.0M | $1.0M | 7.4% | |
| Vanguard S&P 500 ETF | — | — | $720K | $983K | 7.0% | |
| Morgan Stanley Bank N.A. and cash | — | — | $656K | $656K | 4.7% | |
| Party-in- Identity of issue, borrower, lessor, or similar party and description of Current interest investment, maturity date, rate of interest, collateral, par or maturity value Cost value Balance forward | — | — | $544K | $580K | 4.1% | |
| Nuveen New York Amt-Free Quality Municipal Income Fund | — | — | $465K | $442K | 3.2% | |
| Western Asset Inflation-linked Income Fund | — | — | $511K | $426K | 3.0% | |
| Vanguard Total Bond Market | — | — | $308K | $305K | 2.2% | |
| MFS Intermediate Income Trust | — | — | $300K | $295K | 2.1% | |
| OFS Credit Company SER-F | — | — | $266K | $268K | 1.9% | |
| Angel Oak Financial Strategies Income | — | — | $234K | $251K | 1.8% | |
| Eagle Point Income Co Inc SER-C, $250,000 due 4/30/2029 at 8.00% | — | — | $248K | $250K | 1.8% | |
| Nuveen Amt-Free Quality Municipal Income Fund | — | — | $229K | $249K | 1.8% | |
| Blackrock Muniholdings CA Quality Fund Inc. | — | — | $227K | $226K | 1.6% | |
| Nuveen CA Quality Municipal Income Fund | — | — | $216K | $224K | 1.6% | |
| Tavia Acquisition Corp | — | — | $220K | $220K | 1.6% | |
| Oxford Lane Capital Corp, $213,750 due 1/31/2027 at 5.000% | — | — | $212K | $203K | 1.4% | |
| Vanguard Small Cap ETF | — | — | $134K | $192K | 1.4% | |
| Great Elm Capita, $181,250 due 6/30/2026 at 5.875% | — | — | $180K | $180K | 1.3% | |
| HCM II Acquisition Corp CL A | — | — | $177K | $178K | 1.3% | |
| Saratoga Inv Corp Cal NT 27 $700,000 due 4/30/2027 at 6.000% | — | — | $173K | $176K | 1.3% | |
| RF Acquisition Corp II | — | — | $171K | $174K | 1.2% | |
| GP-ACT III Acquisition Corp CL A | — | — | $170K | $172K | 1.2% | |
| Aimei Health Technology Co LTD | — | — | $164K | $171K | 1.2% | |
| Great Elm Capital Corp, $168,750 due 4/30/2029 at 8.500% | — | — | $167K | $170K | 1.2% | |
| Blackrock Credit Allocation Income Trust | — | — | $162K | $170K | 1.2% | |
| Concord Acq Corp II CL A | — | — | $169K | $168K | 1.2% | |
| Pioneer Diversified High Income | — | — | $127K | $148K | 1.1% | |
| Vanguard Total Stock Market ETF | — | — | $66K | $130K | 0.9% | |
| Vanguard FTSE Pacific ETF | — | — | $120K | $120K | 0.9% | |
| OFS Credit Company Inc Cal NT | — | — | $120K | $115K | 0.8% | |
| Eagle Point Income Co Inc Cat NT, $121,250 due 10/30/2026 at 5.000% | Corporate Bonds | — | $120K | $115K | 0.8% | |
| Neuberger Berman Next Gen Fund | — | — | $104K | $115K | 0.8% | |
| Vanguard FTSE Europe ETF | — | — | $94K | $111K | 0.8% | |
| Gabelli Dividend & Income Trust | — | — | $83K | $97K | 0.7% | |
| Putnam Premier Income Trust | — | — | $107K | $96K | 0.7% | |
| Nuveen NASDAQ 100 Dynamic OVC | — | — | $85K | $95K | 0.7% | |
| Ishares Core MSCI Europe | — | — | $74K | $69K | 0.5% | |
| Abrdn Total Dynamic Dividend C | — | — | $54K | $62K | 0.4% | |
| Blackrock Enhanced International Dividend Trust | — | — | $62K | $61K | 0.4% | |
| Vanguard Growth ETF | — | — | $31K | $57K | 0.4% | |
| Blackrock Enhanced Global Dividend Trust | — | — | $47K | $55K | 0.4% | |
| Virtus Dividend Interest & Premium Strategy Fund | — | — | $46K | $48K | 0.3% | |
| JPMoran Betabuilders Japan | — | — | $37K | $43K | 0.3% | |
| Voya Global Equity Dividend | — | — | $39K | $43K | 0.3% | |
| Liberty All Star Growth Fund Inc | — | — | $36K | $38K | 0.3% | |
| Blackrock ESG Capital Allocation Trust | — | — | $31K | $38K | 0.3% | |
| Voya Global Advantage and Premium Opportunity Fund | — | — | $35K | $37K | 0.3% | |
| Blackrock Science & Technology Term Trust | — | — | $29K | $36K | 0.3% | |
| Allspring Global Dividend Opportunities | — | — | $33K | $35K | 0.2% | |
| Exchanged-traded funds Abrdn Global Dynamic Dividend | — | — | $31K | $34K | 0.2% | |
| NYLI CBRE Global Infrastructure Megatrends Term Fund | — | — | $38K | $33K | 0.2% | |
| Calamos Global Dynamic Income Fund | — | — | $22K | $25K | 0.2% | |
| Blackrock Health Sciences Term | — | — | $20K | $21K | 0.1% | |
| Eagle Point CR Co Inc, $20,475 due 4/30/2028 at 6.6875% | — | — | $20K | $20K | 0.1% | |
| Ishares Edge MSCI US Quality Factor | — | — | $14K | $20K | 0.1% | |
| Blackrock Innovation and Growth Term Trust | — | — | $19K | $18K | 0.1% | |
| Abrdn Global Infra Income Fund | — | — | $16K | $16K | 0.1% | |
| New Germany Fund | — | — | $17K | $16K | 0.1% | |
| Swiss Helvetia Fund Inc | — | — | $16K | $15K | 0.1% | |
| Japan Smaller Capitalization Fund Inc | — | — | $14K | $12K | <0.1% | |
| Abrdn Japan Equity Fund Inc | — | — | $12K | $12K | <0.1% | |
| Ishares MSCI Canada ETF | — | — | $11K | $10K | <0.1% | |
| The Financial Select Sector SPDR Fund | — | — | $10K | $10K | <0.1% | |
| Vanguard International Equity Index Fund | — | — | $7K | $7K | <0.1% | |
| Individual transactionsCommunity Bank, N.A.Chemung Canal Trust Company Reportable transactions are transactions or a series of transactions in excess of 5% of the value of the Plan assets as of January 1, 2024 as defined in Section2520.103-6 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under ERISA:Note: Column (e) and (f) are not applicable. | — | — | — | $3K | <0.1% |