Plan Snapshot
- Plan Sponsor: Embrace Home Loans, INC.
- Sponsor EIN: 050402708
- Sponsor Address: 25 ENTERPRISE CENTER, MIDDLETOWN, RI, 02842
- Plan Type: 401(k)
- Total Participants: 425
- Total Assets: $82.7M
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 | 425 | $82.7M | $0 | $3.6M |
| 2023 | 485 | $77.4M | $0 | $3.9M |
| 2022 | 637 | $70.0M | $2.7M | $6.1M |
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 |
|---|---|---|---|---|
| GALLAGHER BENEFIT SERVICES INC | Investment Advisor | — | $50,000 | $50,000 |
| VOYA RETIREMENT ADVISORS, LLC | Other Service Provider | $26,374 | — | $26,374 |
| VOYA RETIREMENT INSURANCE & ANNUITY | Other Service Provider | $9,164 | — | $9,164 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- GALLAGHER BENEFIT SERVICES INC — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $85,538
- Estimated Expense Ratio: 0.103% 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 | $35,539 | $26,939 | $6,200 | — | — |
| 2023 | $34,308 | $23,233 | $6,025 | — | — |
| 2022 | $42,236 | — | — | — | — |