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Original filing (PDF)20260213091200NAL0001295025001
BOARD OF TRUSTEES, IRON WORKERS LOCAL NO. 25
Form 5500
FILING_RECEIVED
IRON WORKERS' HEALTH FUND OF EASTERN MICHIGAN
Health & welfare plan
Signals · 4
26% in single holding~746 bps in Sched C feesNo recordkeeper disclosed19 service providers
Active participants
2,120
Accounts w/ balance
—
Plan assets (EOY)
$48.4M
Net assets (EOY)
$5.3M
How this plan invests
This plan
3 pooled trusts
Schedule D
117 securities
funds · stocks · CUSIPs
Holdings are itemized directly on this plan's Schedule of Assets, below.
Plan health score (directional)
87
/ 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
87
Total plan cost
65
Vendor stack
80
Participation health
100
Knocking points off
- Top holding "Comerica Bank, N.A. NIS Core Fixed Income QP Fund, LLC" is 26% of plan.
- 746 bps in Schedule C fees — 2472% above peer band of 29 bps.
- No recordkeeper disclosed on Schedule C.
Decision-maker contacts
CFO / Head of HR / Benefits Manager — verified email + LinkedIn for BOARD OF TRUSTEES, IRON WORKERS LOCAL NO. 25.
Plan sponsor
Name
BOARD OF TRUSTEES, IRON WORKERS LOCAL NO. 25
EIN
38-6216995
Address
700 TOWER DRIVE, · SUITE 300 · TROY, MI · 480982808
Phone
(248) 347-3100
Industry
Constructionsee all
Plan administrator
Same as plan sponsor.
Plan characteristics
Plan number
501
Plan year
2024
Plan year begin
2024-05-01
Tax period
2025-04-30
Filed
2026-02-13
Welfare benefit codes
4A · Health (other than dental or vision)
4B · Life Insurance
4D · Dental
4E · Vision
4F · Temporary Disability (accident and sickness)
4L · Death Benefits (other than life insurance)
4Q · Other
4T · Long-Term Care
4U · Dependent Care
Audit & trust (Schedule H)
Auditor
PLANTE & MORAN, PLLC
Trustee / custodian
—
Trustee phone
—
Service providers (Schedule C)
19 rowsOther
19| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| BLUE CROSS BLUE SHIELD OF MICHIGAN | 38-2069753 | — | NONE KNOWN | $1.7M | — |
| BENESYS, INC. | 38-2383171 | — | NONE KNOWN | $352K | — |
| TAFT STETTINIUS & HOLLISTER LLP | 31-0541755 | — | NONE KNOWN | $252K | — |
| HESSIAN & MCKASY, P.A. | 20-1551306 | — | NONE KNOWN | $221K | — |
| HORIZON ACTUARIAL SERVICES, LLC. | 26-1370698 | — | NONE KNOWN | $209K | — |
| PLANTE & MORAN, PLLC | 33-1498605 | — | NONE KNOWN | $136K | — |
| ASHERKELLY | 38-3379113 | — | NONE KNOWN | $131K | — |
| OPTUM RX INC. | 33-0441200 | — | NONE KNOWN | $130K | — |
| LITTLER MENDELSON PC | 94-2602731 | — | NONE KNOWN | $128K | — |
| DELTA DENTAL OF MICHIGAN | 38-1791480 | — | NONE KNOWN | $92K | — |
| NATIONAL INVESTMENT SERVICES OF AME | 84-3937993 | — | NONE KNOWN | $61K | — |
| HEALTHLINX, LLC | 87-0660214 | — | NONE KNOWN | $58K | — |
| AMERICAN GRAPHICS PRINTING CO | — | CLINTON TWP, MI | NONE KNOWN | $26K | — |
| COMERICA BANK | 42-1741646 | — | NONE KNOWN | $25K | — |
| SLEVIN & HART, PC | — | WASHINGTON DC, DC | NONE KNOWN | $24K | — |
| ACCRETIVE GLBL INS PART D ADVISORS | 85-3689655 | — | NONE KNOWN | $24K | — |
| BOYD WATTERSON ASSET MGMT, LLC | 34-1922005 | — | NONE KNOWN | $23K | — |
| NEPC, LLC | 26-1429809 | — | NONE KNOWN | $22K | — |
| WITHUMSMITH+BROWN, PC | 22-2027092 | — | NONE KNOWN | $15K | — |
Investments
113 direct securities · 3 pooled funds· $40.6M(84% of reported assets)
Rows tagged as a trust or pooled fund hold many underlying securities. Click one to drill into its own Schedule of Assets — where the individual funds, shares, and CUSIPs live.
Uncategorized
$28.2M
113 holdings
Common Collective Trust
$12.4M
3 holdings
| PI | Investment | Type | Shares / units | Cost | Current value | % of plan |
|---|---|---|---|---|---|---|
| NIS CORE FIXED INCOME QP FUND, LLC NATIONAL INVESTMENT SERVICES OF AMERICA, LLC · EIN 82-4028492 / PN 001 | Common Collective Trust | — | $9.6M | $10.7M | 22.0% | |
| Comerica Bank, N.A. Goldman Sachs Financial Square Funds-Government Fund-FS | — | — | $6.0M | $6.0M | 12.4% | |
| Comerica Bank, N.A Baird Core Plus Bond Institutional CLS/71 | — | — | $4.6M | $4.6M | 9.6% | |
| NCS Global Fund LLC | — | — | $2.0M | $3.3M | 6.8% | |
| Boyd Waterson State Government Fund LP | — | — | $3.2M | $2.7M | 5.6% | |
| NIS TOTAL ABSOLUTE RETURN QP FD LLC NATIONAL INVESTMENT SERVICES OF AMERICA, LLC · EIN 82-4069919 / PN 001 | Common Collective Trust | — | $916K | $1.1M | 2.3% | |
| US Treasury DTD 2.00% 11/15/2026 | — | — | $599K | $633K | 1.3% | |
| US Treasury BDS 2.875% 08/15/2028 | — | — | $613K | $622K | 1.3% | |
| US Treasury BDS 2.25% 11/15/2027 | — | — | $600K | $619K | 1.3% | |
| NIS HIGH YIELD QP FUND, LLC NATIONAL INVESTMENT SERVICES OF AMERICA, LLC · EIN 82-4051841 / PN 001 | Common Collective Trust | — | $449K | $579K | 1.2% | |
| US Treasury BDS 1.625% 05/15/2026 | — | — | $545K | $572K | 1.2% | |
| US Treasury BDS 1.625% 02/15/2026 | — | — | $429K | $447K | 0.9% | |
| US Treasury NTS DTD 4.625% 9/30/2033 | — | — | $207K | $213K | 0.4% | |
| US Treasury 3.5% NTS DTD 01/3/2030 | — | — | $206K | $213K | 0.4% | |
| US Treasury BDS 2.875% 08/15/2028 | — | — | $202K | $210K | 0.4% | |
| US Treasury 3.25% NTS DTD 06/30/29 | — | — | $194K | $207K | 0.4% | |
| US Treasury NTS DTD 4.125% 3/31/2035 | — | — | $199K | $202K | 0.4% | |
| US Treasury BDS 2% 08/15/2025 | — | — | $175K | $184K | 0.4% | |
| US Treasury BDS DTD 4.25% 02/15/2054 | — | — | $181K | $181K | 0.4% | |
| US Treasury 3.5% NTS DTD 02/15/2033 | — | — | $149K | $150K | 0.3% | |
| CAPITAL ONE FINL CORP SR VAR 06/08/2029 | — | — | $140K | $141K | 0.3% | |
| Federal Natl MTG Assn 3% 03/1/2052 | — | — | $152K | $137K | 0.3% | |
| Federal Home Loan Mtg Corp 2.5% 01/01/2051 | — | — | $157K | $135K | 0.3% | |
| Comerica Bank, N.A. US Treasury DTD 2.25% 11/15/2025 | — | — | $129K | $134K | 0.3% | |
| Lazard Group LLC 4.5% 09/19/2028 | — | — | $136K | $133K | 0.3% | |
| Ford CR Auto Owner TR 5.07% 01/15/2029 | — | — | $126K | $131K | 0.3% | |
| Carmax Auto Owner 1.5% 01/18/2028 | — | — | $122K | $128K | 0.3% | |
| JP Morgan Chase & CO SR 0% 10/23/2029 | — | — | $124K | $126K | 0.3% | |
| Morgan Stanley Fr 6.296% 10/18/2028 | — | — | $125K | $125K | 0.3% | |
| Federal Natl Mtg Assn 3.5% 05/1/2052 | — | — | $128K | $122K | 0.3% | |
| FNMA POOL 5.5% 06/01/2054 | — | — | $113K | $114K | 0.2% | |
| Federal Natl Mtg Assn 4% 07/1/2052 | — | — | $113K | $110K | 0.2% | |
| FREEPORT-MCMORAN COPPER & GOLD 4.375% 08/01/2028 | — | — | $97K | $99K | 0.2% | |
| Equinix Inc SR GLBL 2% 05/15/2028 | — | — | $91K | $98K | 0.2% | |
| ARROW ELECTRS INC 3.875% 01/12/2028 | — | — | $97K | $98K | 0.2% | |
| Wells Fargo & CO SR 3.908% 04/25/2025-2026 | — | — | $97K | $98K | 0.2% | |
| CHENIERE ENERGY PARTNERS L P 4.5% 10/01/2029-2024 | — | — | $96K | $98K | 0.2% | |
| REINSURANCE 3.9% 05/15/2029-2029 | — | — | $96K | $98K | 0.2% | |
| AMEREN CORP SR NT 5.00% 01/15/2029 | — | — | $95K | $96K | 0.2% | |
| DTE ENERGY CO 4.95% 07/01/2027 | — | — | $95K | $96K | 0.2% | |
| MERITAGE HOMES CORP SR GLBL NT DTD 6/6/2017 5.125% 6/6/2027 | — | — | $95K | $96K | 0.2% | |
| Well Tower Inc 4.25% 04/15/2028 | — | — | $94K | $95K | 0.2% | |
| Ares Capital Corp 3.25% 07/15/2025 | — | — | $97K | $95K | 0.2% | |
| Brown & Brows Inc 4.5% 03/15/2029 | — | — | $94K | $95K | 0.2% | |
| Goldman Sachs Group Inc 4.223% 05/01/2029 | — | — | $90K | $94K | 0.2% | |
| Exelon Corp 3.4% 04/15/2026 | — | — | $91K | $94K | 0.2% | |
| Broadcom Inc 3.459% 09/15/2026 | — | — | $90K | $94K | 0.2% | |
| American Tower Reit 1.3% 9/15/2025 | — | — | $93K | $94K | 0.2% | |
| Southern Co SR 2021C 3.25% 07/01/2026 | — | — | $91K | $94K | 0.2% | |
| CMS Energy Corp 3.45% 8/15/2027 | — | — | $90K | $93K | 0.2% | |
| T-Mobile USA 2.25% 02/15/2023-2026 | — | — | $87K | $93K | 0.2% | |
| Sysco 3.25% 07/15/2027 | — | — | $89K | $93K | 0.2% | |
| American Elec PWR Inc 3.2% 11/13/2027 | — | — | $88K | $93K | 0.2% | |
| Nasdaq Inc Cr Sen 5.35% 06/28/2028 | — | — | $91K | $93K | 0.2% | |
| AES CORP SR NT 5.45% 06/01/2028 | — | — | $90K | $91K | 0.2% | |
| Duke Energy Carolinas LLC 5% 12/08/2027 | — | — | $90K | $91K | 0.2% | |
| Marriott Intl Inc New CL A 5% 10/15/2027 | — | — | $89K | $91K | 0.2% | |
| Keurig Dr Pepper 5.1% 3/15/2027 | — | — | $90K | $91K | 0.2% | |
| Lennar Corp 4.75% 11/29/2027 | — | — | $88K | $90K | 0.2% | |
| Targa Resources Partners 5% 01/15/2023-2028 | — | — | $89K | $90K | 0.2% | |
| Comerica Bank, N.A. Citigroup Inc 4.4% 06/10/2025 | — | — | $95K | $90K | 0.2% | |
| CVS/ Caremark Corp 3.875% 07/20/2025 | — | — | $97K | $90K | 0.2% | |
| JB Hunt Transportation Services 3.875% 03/01/2026 | — | — | $87K | $89K | 0.2% | |
| DOLLAR GEN CORP DTD 4/11/2017 3.875% 4/15/2027 | — | — | $87K | $89K | 0.2% | |
| Federal Home Loan MTG Corp 5% 10/1/2052 | — | — | $89K | $89K | 0.2% | |
| Federal Natl Mtg Assn 4.5% 11/1/2052 | — | — | $88K | $86K | 0.2% | |
| Federal Home LN MTG Corp 2% 02/1/2051 | — | — | $100K | $84K | 0.2% | |
| Xylem Inc 1.95% 01/30/2027-2028 | — | — | $74K | $80K | 0.2% | |
| US Treasury NTS DTD 4.375% 5/15/2034 | — | — | $77K | $76K | 0.2% | |
| Federal Natl Mtg Assn 5.5% 01/1/2053 | — | — | $72K | $73K | 0.1% | |
| Sigma Fin Inc Medium Term NTS PP 0% 5/18/2009 | — | — | — | $71K | 0.1% | |
| Carmax Auto Owner Trust ABS 1.55% 10/15/2027 | — | — | $66K | $70K | 0.1% | |
| FNMA PASS-THRU 2.5% 06/1/2050 | — | — | $81K | $66K | 0.1% | |
| Carmax Auto Owner TR 6.55% 10/15/20 | — | — | $62K | $62K | 0.1% | |
| Federal Natl Mtg Assn 3.5% 06/1/2052 | — | — | $62K | $61K | 0.1% | |
| Targa Resources Partners 5.5% 03/01/2025-2030 | — | — | $58K | $60K | 0.1% | |
| Verisign Inc 4.75% 07/15/2022-2027 | — | — | $63K | $60K | 0.1% | |
| EXETER AUTOMOBILE 5.06% 02/18/2031 | — | — | $60K | $59K | 0.1% | |
| Roper Technologies Inc 1% 09/15/2025 | — | — | $59K | $58K | 0.1% | |
| Lennox Intl Inc SR NT 5.5% 09/15/2028 | — | — | $56K | $56K | 0.1% | |
| Raymond James Finl Inc 4.65% 04/01/2030 | — | — | $65K | $55K | 0.1% | |
| US Treasury BDS 2.125% 05/15/2025 | — | — | $54K | $55K | 0.1% | |
| WORLD OMNI AUTO REC TR 1.72% 06/15/2028 | — | — | $52K | $54K | 0.1% | |
| GOLDMAN SACHS GROUP 5.727% 04/25/2030 | — | — | $53K | $52K | 0.1% | |
| Brown & Brows Inc 2.375% 03/15/2030-2031 | — | — | $58K | $52K | 0.1% | |
| Assurant Inc 2.65% 01/15/2032 | — | — | $58K | $50K | 0.1% | |
| Oshkosh Corp 3.1% SNR PIDI NTS 01/03/2029-2030 | — | — | $54K | $50K | 0.1% | |
| US Treasury 3.5% NTS DTD 01/31/2028 | — | — | $49K | $50K | 0.1% | |
| MERITAGE HOMES CORP SR NT DTD 3/6/2025 5.65% 3/15/2035 | — | — | $50K | $49K | 0.1% | |
| FREEPORT-MCMORAN COPPER & GOLD 4.25% 03/01/2030 | — | — | $47K | $49K | 0.1% | |
| Plains All Amern Pipeline 3.55% 12/15/2029 | — | — | $45K | $47K | <0.1% | |
| Quanta 2.35% 01/15/2031-2032 | — | — | $53K | $46K | <0.1% | |
| US Treasury BDS 4% 11/15/2042 | — | — | $51K | $46K | <0.1% | |
| Duke Energy Carolinas LLC 3.75% 06/01/2044-2045 | — | — | $58K | $46K | <0.1% | |
| Sixth Street Specialty 6.125% 03/01/2029 | — | — | $45K | $46K | <0.1% | |
| Verisk Analytics 5.25% 06/05/2034 | — | — | $45K | $45K | <0.1% | |
| Federal Natl Mtg Assn 4% 02/1/2053 | — | — | $46K | $45K | <0.1% | |
| Acuity Brands Ltg Inc 2.15% 12/15/2030 | — | — | $48K | $43K | <0.1% | |
| T-Mobile USA 3.375% 04/15/2024-2029 | — | — | $41K | $43K | <0.1% | |
| Comcast Corp 4.7% 10/15/2048 | — | — | $58K | $43K | <0.1% | |
| Drive Auto Receivables Trust ABS DTD 1.45% 01/16/2029 | — | — | $40K | $42K | <0.1% | |
| JP Morgan Chase & CO 3.328% 04/22/2052 | — | — | $43K | $41K | <0.1% | |
| Burlington Northn Santa Fe LLC 4.15% 04/01/2044-2045 | — | — | $49K | $37K | <0.1% | |
| Huntington Bancshares Inc 2.55% 02/04/2029-2030 | — | — | $40K | $36K | <0.1% | |
| Bk of America Corp Medium 5.875% 02/07/2042 | — | — | $44K | $36K | <0.1% | |
| Southwestern 3.7% 07/15/2027 | — | — | $46K | $36K | <0.1% | |
| McDonalds Corp 4.45% 09/01/2048 | — | — | $43K | $33K | <0.1% | |
| SANTANDER DRIVE AUTO RECEIVABLES ABS 1.67% 10/15/2027 | — | — | $30K | $31K | <0.1% | |
| Federal Home Loan Mtg Corp 3% 12/1/2049 | — | — | $35K | $31K | <0.1% | |
| Sysco 3.3% 02/15/2049-2050 | — | — | $43K | $29K | <0.1% | |
| Borg Warner 2.65% 07/01/2027 | — | — | $30K | $29K | <0.1% | |
| Federal Home LN MTG Corp 3% 09/1/2043 | — | — | $27K | $23K | <0.1% | |
| DiamondBack Energy 5.2% 04/18/2027 | — | — | $20K | $20K | <0.1% | |
| Santander Drive Auto Receivables ABS 1.33% 09/15/2027 | — | — | $19K | $20K | <0.1% | |
| Federal Natl MTG Assn 2.5% 08/1/2050 | — | — | $21K | $16K | <0.1% | |
| Federal Natl Mtg Assn GTD MTG PA 3% 06/1/2049 | — | — | $15K | $13K | <0.1% |