Plan Snapshot
- Plan Sponsor: Cornerstone Bank
- Sponsor EIN: 450117720
- Sponsor Address: 2280 45TH ST S, FARGO, ND, 58104
- Plan Type: 401(k)
- Total Participants: 208
- Total Assets: $26.7M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- 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 | 208 | $26.7M | $1.5M | $1.4M |
| 2023 | 201 | $23.2M | $1.2M | $1.3M |
| 2022 | 190 | $19.3M | $1.1M | $1.2M |
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 ANNUITY INSURANCE COMPANY | Recordkeeper | $116,168 | — | $116,168 |
| LPL FINANCIAL LLC | Investment Advisor | — | $95,751 | $95,751 |
| ASCENSUS HOLDINGS INC | Other Service Provider | $6,650 | $10,000 | $16,650 |
| EIDE BAILLY LLP | Auditor | $10,750 | — | $10,750 |
| EMPOWER ADVISORY GROUP | Other Service Provider | $5,401 | — | $5,401 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- LPL FINANCIAL LLC — Investment Advisor
- EIDE BAILLY LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $244,720
- Estimated Expense Ratio: 0.916% 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 | $129,000 | — | $129,000 | — | — |
| 2023 | $106,711 | — | $106,711 | — | — |
| 2022 | $104,035 | — | $104,035 | — | — |