Plan Snapshot
- Plan Sponsor: Elga Credit Union
- Sponsor EIN: 381441242
- Sponsor Address: 2305 SOUTH CENTER ROAD, BURTON, MI, 48519
- Plan Type: 401(k)
- Total Participants: 310
- Total Assets: $29.5M
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 | 310 | $29.5M | $1.3M | $1.4M |
| 2023 | 280 | $25.2M | $1.1M | $1.2M |
| 2022 | 220 | $19.6M | $962,152 | $1.1M |
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 |
|---|---|---|---|---|
| REHMANN ROBSON LLC | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 | $73,118 | $87,954 | — | — | — |
| 2023 | $77,722 | $83,489 | — | — | — |
| 2022 | $108,896 | — | — | — | — |