Plan Snapshot
- Plan Sponsor: Basic American, INC.
- Sponsor EIN: 941318402
- Sponsor Address: 1676 N. CALIFORNIA BLVD., WALNUT CREEK, CA, 94596
- Plan Type: 401(k)
- Total Participants: 871
- Total Assets: $158.7M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: Yes
- 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 | 871 | $158.7M | $3.4M | $5.3M |
| 2023 | 813 | $154.7M | $3.3M | $5.5M |
| 2022 | 1,051 | $143.0M | $3.3M | $6.0M |
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 |
|---|---|---|---|---|
| SCHWAB RETIREMENT PLAN SERVICES,INC | NONE | $385,148 | — | $385,148 |
| BASIC AMERICAN INC | NONE | $76,801 | — | $76,801 |
| MORGAN STANLEY GLOBAL | NONE | $30,000 | — | $30,000 |
| CBIZ INC | NONE | $20,383 | — | $20,383 |
| CBIZ CPAS P.C. | Auditor | $16,446 | — | $16,446 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- SCHWAB RETIREMENT PLAN SERVICES,INC — NONE
- BASIC AMERICAN INC — NONE
- MORGAN STANLEY GLOBAL — NONE
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $528,778
- Estimated Expense Ratio: 0.333% 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 | $513,499 | $275,526 | $78,591 | $16,446 | — |
| 2023 | $515,799 | $256,506 | $113,467 | $1,558 | — |
| 2022 | $494,860 | $32,959 | — | — | $67,245 |