Plan Snapshot
- Plan Sponsor: Finwise Bank
- Sponsor EIN: 870632133
- Sponsor Address: 756 EAST WINCHESTER STREET, MURRAY, UT, 84107
- Plan Type: 401(k)
- Total Participants: 194
- Total Assets: $11.0M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- 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 | 194 | $11.0M | $1.1M | $1.5M |
| 2023 | 161 | $7.1M | $687,941 | $949,271 |
| 2022 | 139 | $5.2M | $442,067 | $702,850 |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | Recordkeeper | $37,445 | — | $37,445 |
| OSAIC WEALTH, INC. | Investment Advisor | — | $11,677 | $11,677 |
| NATIONAL BENEFIT SERVICES LLC | Recordkeeper | $5,544 | $3,820 | $9,364 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- OSAIC WEALTH, INC. — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $58,486
- Estimated Expense Ratio: 0.534% 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 | $42,970 | — | $42,970 | — | — |
| 2023 | $31,157 | — | $31,157 | — | — |
| 2022 | $23,245 | — | $23,245 | — | — |