Plan Snapshot
- Plan Sponsor: Avera Health Plans, INC.
- Sponsor EIN: 460451539
- Sponsor Address: 3900 WEST AVERA DRIVE, STE 300, SIOUX FALLS, SD, 57108
- Plan Type: 401(k)
- Total Participants: 401
- Total Assets: $24.3M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 401 | $24.3M | $763,451 | $1.3M |
| 2023 | 333 | $21.7M | $813,168 | $1.3M |
| 2022 | 334 | $20.1M | $827,059 | $1.5M |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| FIDELITY INVESTMENTS INSTITUTIONAL | Recordkeeper | $12,098 | — | $12,098 |
| STRATEGIC ADVISORS, INC. | Investment Advisor | $6,563 | — | $6,563 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FIDELITY INVESTMENTS INSTITUTIONAL — Recordkeeper
- STRATEGIC ADVISORS, INC. — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $18,661
- Estimated Expense Ratio: 0.077% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $18,661 | $6,563 | — | — | — |
| 2023 | $16,623 | $5,422 | — | — | — |
| 2022 | $18,737 | $6,674 | — | — | — |