Plan Snapshot
- Plan Sponsor: Bmi Financial Group, INC.
- Sponsor EIN: 592787441
- Sponsor Address: 8950 SW 74TH CT 23RD FLOOR, MIAMI, FL, 33156
- Plan Type: 401(k)
- Total Participants: 145
- Total Assets: $9.2M
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 | 145 | $9.2M | $101,622 | $668,146 |
| 2023 | 143 | $8.5M | $95,301 | $555,105 |
| 2022 | 139 | $8.7M | $85,716 | $531,157 |
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 |
|---|---|---|---|---|
| ADP, INC. | RECORD KEEPER | $10,790 | — | $10,790 |
| VERDEJA & ALVAREZ LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- ADP, INC. — RECORD KEEPER
- VERDEJA & ALVAREZ LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $10,790
- Estimated Expense Ratio: 0.118% 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 | $10,790 | — | — | — | — |
| 2023 | $8,496 | — | — | — | — |
| 2022 | $8,531 | — | — | — | — |