Plan Snapshot
- Plan Sponsor: Corning Federal Credit Union
- Sponsor EIN: 166028994
- Sponsor Address: PO BOX 1450, CORNING, NY, 148301050
- Plan Type: 401(k)
- Total Participants: 414
- Total Assets: $81.4M
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 | 414 | $81.4M | $2.6M | $2.6M |
| 2023 | 421 | $71.7M | $2.4M | $2.5M |
| 2022 | 411 | $59.1M | $2.2M | $2.3M |
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 |
|---|---|---|---|---|
| CMFG LIFE INSURANCE COMPANY | NONE | $57,863 | — | $57,863 |
| MARINER WEALTH ADVISORS, LLC | NONE | $45,000 | — | $45,000 |
| MENGEL, METZGER, BARR & CO.LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- CMFG LIFE INSURANCE COMPANY — NONE
- MENGEL, METZGER, BARR & CO.LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $102,863
- Estimated Expense Ratio: 0.126% 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 | $102,863 | $45,000 | $50,433 | — | — |
| 2023 | $107,262 | $45,000 | $53,567 | — | — |
| 2022 | $117,335 | $45,000 | $72,335 | — | — |