Plan Snapshot
- Plan Sponsor: Devon Bank
- Sponsor EIN: 362030168
- Sponsor Address: 6445 N. WESTERN AVENUE, CHICAGO, IL, 60645
- Plan Type: 401(k)
- Total Participants: 124
- Total Assets: $18.8M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 124 | $18.8M | $360,790 | $786,431 |
| 2023 | 125 | $17.9M | $378,812 | $885,922 |
| 2022 | 127 | $15.0M | $375,673 | $832,721 |
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 |
|---|---|---|---|---|
| VOYA RETIREMENT INSURANCE & ANNUITY | SERVICE PROVIDER | $55,621 | — | $55,621 |
| LPL FINANCIAL CORPORATION | BROKER/DEALER | — | $43,266 | $43,266 |
| CROWE | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $98,887
- Estimated Expense Ratio: 0.526% 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 | $56,515 | $1,195 | $54,870 | — | — |
| 2023 | $50,755 | $2,717 | $47,438 | — | — |
| 2022 | $50,859 | — | — | — | — |