Plan Snapshot
- Plan Sponsor: Beacon Credit Union
- Sponsor EIN: 356025844
- Sponsor Address: 586 SOUTH WABASH STREET, WABASH, IN, 46992
- Plan Type: 401(k)
- Total Participants: 271
- Total Assets: $16.0M
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 | 271 | $16.0M | $363,302 | $1.4M |
| 2023 | 256 | $13.2M | $335,909 | $1.3M |
| 2022 | 252 | $10.6M | $287,509 | $1.2M |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $41,101 | — | $41,101 |
| LION STREET ADVISORS | INVESTMENT ADVISORY | $35,441 | $11 | $35,452 |
| FORVIS MAZARS, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FORVIS MAZARS, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $76,553
- Estimated Expense Ratio: 0.479% 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 | $76,549 | $35,447 | $41,102 | — | — |
| 2023 | $60,481 | $28,099 | $32,382 | — | — |
| 2022 | $58,657 | $26,467 | $32,190 | — | — |