Plan Snapshot
- Plan Sponsor: Healthsmart Benefits Management, LLC
- Sponsor EIN: 271300475
- Sponsor Address: 9900 BREN ROAD EAST, MINNETONKA, MN, 55343
- Plan Type: 401(k)
- Plan Number: 001
- Total Participants: 707
- Total Assets: $37.9M
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. |
|---|---|---|---|---|
| 2023 | 707 | $37.9M | $0 | $1.9M |
| 2022 | 756 | $36.8M | $480,269 | $3.0M |
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 |
|---|---|---|---|---|
| EMPOWER ANNUITY INS CO. OF AMERICA | Recordkeeper | $74,601 | — | $74,601 |
| USI ADVISORS INC | Investment Advisor | $41,250 | — | $41,250 |
| BAKER TILLY VIRCHOW KRAUSE, LLP | Auditor | $16,300 | — | $16,300 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $132,151
- Estimated Expense Ratio: 0.349% 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 |
|---|---|---|---|---|---|
| 2023 | $117,975 | $41,250 | — | $16,300 | — |
| 2022 | $43,674 | — | — | — | — |