Plan Snapshot
- Plan Sponsor: Boyum & Barenscheer, Pllp
- Sponsor EIN: 416192096
- Sponsor Address: 3050 METRO DRIVE, SUITE 200, BLOOMINGTON, MN, 55425
- Plan Type: 401(k)
- Total Participants: 119
- Total Assets: $24.9M
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 | 119 | $24.9M | $650,506 | $1.4M |
| 2023 | 126 | $24.1M | $695,830 | $1.5M |
| 2022 | 182 | $19.8M | $630,888 | $1.3M |
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 |
|---|---|---|---|---|
| STANCORP FINANCIAL GROUP | Recordkeeper | $23,421 | — | $23,421 |
| LIFE, INC. RETIREMENT SERVICES | Other Service Provider | — | $16,418 | $16,418 |
| TAX SHELTERED COMPENSATION, INC. | Recordkeeper | $5,000 | — | $5,000 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- STANCORP FINANCIAL GROUP — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $44,839
- Estimated Expense Ratio: 0.180% 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 | $39,918 | — | $39,918 | — | — |
| 2023 | $40,716 | — | $40,716 | — | — |
| 2022 | — | — | — | — | — |