Plan Snapshot
- Plan Sponsor: Beacon Credit Union
- Sponsor EIN: 356025844
- Sponsor Address: 586 S. WABASH ST., WABASH, IN, 46992
- Plan Type: DB
- Total Participants: 171
- Total Assets: $35.5M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 171 | $35.5M | $2.0M | $0 |
| 2023 | 184 | $31.3M | $2.0M | $0 |
| 2022 | 198 | $27.2M | $0 | $0 |
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 | $79,200 | — | $79,200 |
| LION STREET ADVISORS, LLC | INVESTMENT ADVISORY | $49,662 | — | $49,662 |
| BEACON CREDIT UNION | OTHER SERVICES | — | $6,930 | $6,930 |
| FORVIS MAZARS, LLP | ACCOUNTANT | — | $6,930 | $6,930 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- LION STREET ADVISORS, LLC — INVESTMENT ADVISORY
- FORVIS MAZARS, LLP — ACCOUNTANT
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $142,722
- Estimated Expense Ratio: 0.403% 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 | $129,162 | $49,662 | $79,500 | — | — |
| 2023 | $122,571 | $41,873 | $80,698 | — | — |
| 2022 | $143,834 | $56,437 | $81,180 | — | $6,217 |