Plan Snapshot
- Plan Sponsor: Freedom Credit Union
- Sponsor EIN: 041961180
- Sponsor Address: 1976 MAIN STREET, SPRINGFIELD, MA, 01103
- Plan Type: 401(k)
- Total Participants: 102
- Total Assets: $13.9M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 102 | $13.9M | $560,116 | $594,613 |
| 2023 | 108 | $13.6M | $637,444 | $587,449 |
| 2022 | 102 | $11.8M | $561,165 | $439,553 |
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 |
|---|---|---|---|---|
| WOLF & COMPANY, PC | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 | $34,182 | $13,080 | $21,102 | — | — |
| 2023 | $33,028 | $12,228 | $20,800 | — | — |
| 2022 | $25,241 | $25,241 | — | — | — |