Plan Snapshot
- Plan Sponsor: Gibson Insurance Agency, INC.
- Sponsor EIN: 351116724
- Sponsor Address: 202 S. MICHIGAN ST., SOUTH BEND, IN, 46601
- Plan Type: 401(k)
- Total Participants: 185
- Total Assets: $38.1M
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 | 185 | $38.1M | $573,585 | $1.9M |
| 2023 | 175 | $32.0M | $487,736 | $1.6M |
| 2022 | 152 | $27.1M | $428,575 | $1.4M |
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 |
|---|---|---|---|---|
| COMMONWEALTH FINANCIAL NETWORK | INVESTMENT ADVISOR | $45,000 | — | $45,000 |
| RETIREMENT PLAN CONCEPTS & SERVICES | CONTRACT ADMIN | $20,777 | — | $20,777 |
| EMPOWER ADVISORY GROUP, LLC | INVESTMENT MGMT | $7,566 | — | $7,566 |
| EMPOWER ANNUITY INSURANCE COMPANY | RECORDKEEPER | $5,353 | — | $5,353 |
| KRUGGEL, LAWTON & COMPANY, LLC | AUDITOR | $5,000 | — | $5,000 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- COMMONWEALTH FINANCIAL NETWORK — INVESTMENT ADVISOR
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $83,696
- Estimated Expense Ratio: 0.220% 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 | $131,929 | — | $5,890 | $5,000 | — |
| 2023 | $57,725 | — | $4,925 | — | — |
| 2022 | $61,850 | — | — | — | — |