Plan Snapshot
- Plan Sponsor: First Heritage Federal Credit Union
- Sponsor EIN: 160802201
- Sponsor Address: 202 DENISON PKWY E., CORNING, NY, 14830
- Plan Type: 401(k)
- Plan Number: 003
- Total Participants: 168
- Total Assets: $18.7M
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. |
|---|---|---|---|---|
| 2025 | 168 | $18.7M | $0 | $0 |
| 2024 | 141 | $16.0M | $734,543 | $646,186 |
| 2023 | 135 | $13.7M | $629,605 | $561,211 |
| 2022 | 121 | $11.2M | $572,351 | $525,626 |
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 | Other Service Provider | $62,852 | — | $62,852 |
| SAGE RUTTY AND CO., INC. | Investment Advisor | — | $44,607 | $44,607 |
| RIMKUS MARCIANO & ASSOCIATES | Recordkeeper | $6,949 | $7,169 | $14,118 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $121,577
- Estimated Expense Ratio: 0.649% 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 |
|---|---|---|---|---|---|
| 2025 | $1,447,140 | — | $69,803 | — | — |
| 2024 | $81,871 | $34,386 | $47,485 | — | — |
| 2023 | $72,114 | $33,606 | $38,508 | — | — |
| 2022 | $66,462 | $31,577 | $34,885 | — | — |