Plan Snapshot
- Plan Sponsor: Empower Federal Credit Union
- Sponsor EIN: 150547278
- Sponsor Address: 1 MEMBER WAY, SYRACUSE, NY, 13212
- Plan Type: 401(k)
- Total Participants: 566
- Total Assets: $75.2M
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 | 566 | $75.2M | $3.2M | $3.4M |
| 2023 | 622 | $64.3M | $2.8M | $3.1M |
| 2022 | 586 | $52.8M | $2.5M | $2.6M |
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 |
|---|---|---|---|---|
| CAPITAL GROUP RETIREMENT PLAN SVCS. | RECORDKEEPER | $54,844 | — | $54,844 |
| FIRLEY, MORAN, FREER, & EASSA, | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $54,844
- Estimated Expense Ratio: 0.073% 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 | $54,844 | — | — | — | — |
| 2023 | $50,530 | — | — | — | — |
| 2022 | $47,834 | — | $47,834 | — | — |