Plan Snapshot
- Plan Sponsor: First Mainstreet Insurance, L.C.
- Sponsor EIN: 823143872
- Sponsor Address: 500 1ST STREET SE, CEDAR RAPIDS, IA, 52401
- Plan Type: 401(k)
- Total Participants: 188
- Total Assets: $6.7M
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 | 188 | $6.7M | $581,172 | $942,698 |
| 2023 | 146 | $5.2M | $448,307 | $617,722 |
| 2022 | 134 | $3.6M | $344,657 | $496,362 |
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 |
|---|---|---|---|---|
| EMPOWER ANNUITY INS CO OF AMERICA | Recordkeeper | $17,902 | — | $17,902 |
| THE FINWAY GROUP, LLC | Other Service Provider | $14,733 | $2,890 | $17,623 |
| LION STREET ADVISORS, LLC | Investment Advisor | $16,266 | — | $16,266 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $51,791
- Estimated Expense Ratio: 0.776% 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 | $54,588 | — | $54,588 | — | — |
| 2023 | $34,320 | — | $34,320 | — | — |
| 2022 | $24,547 | — | — | — | $24,547 |