Plan Snapshot
- Plan Sponsor: Faith Academy Of Mobile
- Sponsor EIN: 581898405
- Sponsor Address: 8650 TANNER WILLIAMS ROAD, MOBILE, AL, 36608
- Plan Type: 403(b)
- Total Participants: 149
- Total Assets: $7.7M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: Yes
- Allows Roth Contributions: No
- 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 | 149 | $7.7M | $212,438 | $384,047 |
| 2023 | 147 | $6.9M | $205,055 | $387,992 |
| 2022 | 150 | $6.2M | $202,961 | $393,473 |
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 |
|---|---|---|---|---|
| AMERICAN UNITED LIFE INSURANCE CO | Other Service Provider | $2,722 | $48,477 | $51,199 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $51,199
- Estimated Expense Ratio: 0.663% 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 | $2,197 | — | $2,197 | — | — |
| 2023 | $1,910 | $1,284 | $626 | — | — |
| 2022 | $1,645 | $1,237 | $408 | — | — |