Plan Snapshot
- Plan Sponsor: Berrien-Cass-Van Buren Workforce Development Board
- Sponsor EIN: 383287818
- Sponsor Address: 330 WEST MAIN STREET, STE 110, BENTON HARBOR, MI, 490223658
- Plan Type: 401(k)
- Plan Number: 002
- Total Participants: 117
- Total Assets: $6.5M
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 | 117 | $6.5M | $459,801 | $487,976 |
| 2023 | 104 | $4.8M | $405,987 | $420,912 |
| 2022 | 104 | $4.2M | $368,824 | $380,058 |
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 | Recordkeeper | $45,173 | — | $45,173 |
| NORTHWESTERN MUTUAL INVESTMENT SERV | Investment Advisor | — | $21,719 | $21,719 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- NORTHWESTERN MUTUAL INVESTMENT SERV — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $66,892
- Estimated Expense Ratio: 1.030% 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 | $45,174 | — | $45,174 | — | — |
| 2023 | $39,487 | — | $39,487 | — | — |
| 2022 | $463,218 | — | — | — | — |