Plan Snapshot
- Plan Sponsor: Heritage Bancshares Group, INC.
- Sponsor EIN: 411768838
- Sponsor Address: 310 1ST STREET S, WILLMAR, MN, 56201
- Plan Type: 401(k)
- Total Participants: 90
- Total Assets: $12.3M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: Yes
- 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 | 90 | $12.3M | $0 | $527,429 |
| 2023 | 91 | $13.4M | $0 | $594,076 |
| 2022 | 106 | $12.3M | $0 | $610,167 |
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 |
|---|---|---|---|---|
| BENEFIT PLAN ADMIN SERVICES | Recordkeeper | $55,926 | — | $55,926 |
| IMPACT RETIREMENT ADVISORS, LLC | Investment Advisor | $15,361 | — | $15,361 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BENEFIT PLAN ADMIN SERVICES — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $71,287
- Estimated Expense Ratio: 0.580% 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 | $71,287 | $15,361 | $55,926 | — | — |
| 2023 | $68,262 | $56,743 | — | — | — |
| 2022 | $67,293 | — | $67,293 | — | — |