Plan Snapshot
- Plan Sponsor: Heritage Federal Credit Union
- Sponsor EIN: 351155006
- Sponsor Address: PO BOX 189, NEWBURGH, IN, 476290189
- Plan Type: 401(k)
- Total Participants: 200
- Total Assets: $20.0M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- 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 | 200 | $20.0M | $1.1M | $816,128 |
| 2023 | 215 | $17.8M | $1.0M | $727,981 |
| 2022 | 217 | $15.4M | $1.1M | $700,134 |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMIN | $57,644 | — | $57,644 |
| GLOBAL RETIREMENT PARTNERS LLC | INVESTMENT ADVISORY | — | $41,216 | $41,216 |
| COMPENSATION SYSTEMS INC | CONTRACT ADMIN | $16,622 | $4,756 | $21,378 |
| FORVIS MAZARS, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- GLOBAL RETIREMENT PARTNERS LLC — INVESTMENT ADVISORY
- FORVIS MAZARS, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $120,238
- Estimated Expense Ratio: 0.601% 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 | $74,266 | — | $74,266 | — | — |
| 2023 | $74,721 | — | $16,383 | — | — |
| 2022 | $78,326 | — | $76,343 | — | $1,983 |