# Corning Federal Credit Union 401(k) Plan
Source: https://planprovider.pro/companies/corning-federal-credit-union-401k-plan

> Corning Federal Credit Union's 401(k) plan: 414 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/trustage) — NONE

- [MENGEL, METZGER, BARR & CO.LLP](https://planprovider.pro/provider/mengel-metzger-barr-and-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|—|—|

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