Plan Snapshot
- Plan Sponsor: Boyne Usa, INC.
- Sponsor EIN: 381301850
- Sponsor Address: 3951 CHARLEVOIX AVENUE, PETOSKEY, MI, 49770
- Plan Type: 401(k)
- Total Participants: 7,305
- Total Assets: $80.4M
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 | 7,305 | $80.4M | $0 | $6.0M |
| 2023 | 7,754 | $71.9M | $3.0M | $6.0M |
| 2022 | 7,231 | $60.2M | $1.1M | $5.4M |
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 |
|---|---|---|---|---|
| EMPOWER ADVISORY GROUP, LLC | Investment Advisor | $190,501 | — | $190,501 |
| EMPOWER ANNUITY INSURANCE COMPANY | Recordkeeper | $155,061 | — | $155,061 |
| FIFTH THIRD BANK | Investment Advisor | $74,677 | — | $74,677 |
| DOEREN MAYHEW GRAND RAPIDS PLLC | Other Service Provider | $15,200 | — | $15,200 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $435,439
- Estimated Expense Ratio: 0.542% 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 | $435,439 | $265,178 | — | — | — |
| 2023 | $388,837 | $234,005 | — | — | — |
| 2022 | $408,837 | — | $408,837 | — | — |