Plan Snapshot
- Plan Sponsor: Frankenmuth Credit Union
- Sponsor EIN: 381796409
- Sponsor Address: 580 NORTH MAIN STREET, FRANKENMUTH, MI, 48734
- Plan Type: 401(k)
- Total Participants: 441
- Total Assets: $35.1M
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 | 441 | $35.1M | $1.5M | $2.3M |
| 2023 | 446 | $29.8M | $1.3M | $2.1M |
| 2022 | 440 | $24.5M | $1.2M | $2.0M |
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 |
|---|---|---|---|---|
| VOYA RETIREMENT ADVISORS, LLC | SERVICE PROVIDER | $111,546 | — | $111,546 |
| VOYA RETIREMENT INSURANCE & ANNUITY | SERVICE PROVIDER | $11,314 | $57 | $11,371 |
| REHMANN ROBSON, LLC | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $122,917
- Estimated Expense Ratio: 0.351% 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 | $122,860 | $111,960 | $9,250 | — | — |
| 2023 | $106,160 | $92,960 | $10,450 | — | — |
| 2022 | $96,272 | — | — | — | — |