Plan Snapshot
- Plan Sponsor: Hudson Valley Credit Union
- Sponsor EIN: 141471439
- Sponsor Address: 137 BOARDMAN ROAD, POUGHKEEPSIE, NY, 126034821
- Plan Type: 401(k)
- Plan Number: 002
- Total Participants: 1,365
- Total Assets: $121.2M
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. |
|---|---|---|---|---|
| 2025 | 1,365 | $121.2M | $0 | $0 |
| 2024 | 951 | $93.5M | $4.1M | $5.8M |
| 2023 | 914 | $78.6M | $2.7M | $4.6M |
| 2022 | 836 | $64.1M | $2.1M | $3.6M |
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 | Recordkeeper | $198,587 | — | $198,587 |
| NFP RETIRMENT, INC | Investment Advisor | — | $50,000 | $50,000 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $248,587
- Estimated Expense Ratio: 0.205% 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 |
|---|---|---|---|---|---|
| 2025 | $7,353,288 | — | $198,588 | — | — |
| 2024 | $40,713 | — | $40,713 | — | — |
| 2023 | $34,889 | — | $34,889 | — | — |
| 2022 | $33,983 | — | $33,983 | — | — |