Plan Snapshot
- Plan Sponsor: Illumifin Corporation
- Sponsor EIN: 570935614
- Sponsor Address: 7805 HUDSON RD, WOODBURY, MN, 55125
- Plan Type: 401(k)
- Total Participants: 1,774
- Total Assets: $102.6M
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 | 1,774 | $102.6M | $2.5M | $8.2M |
| 2023 | 1,776 | $93.3M | $1.9M | $8.5M |
| 2022 | 358 | $4.8M | $635,942 | $1.8M |
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 |
|---|---|---|---|---|
| JOHN HANCOCK LIFE INSURANCE COMPANY | Recordkeeper | $195,577 | — | $195,577 |
| TRANSAMERICA RETIREMENT SOLUTIONS | Recordkeeper | $22,588 | — | $22,588 |
| CBIZ CPAS P.C. | Auditor | $13,800 | — | $13,800 |
| MERRILL LYNCH | Investment Advisor | $12,116 | — | $12,116 |
| KESTRA ADVISORY SERVICES | Investment Advisor | $10,748 | — | $10,748 |
| TOWERS WATSON INVESTMENT SERVICES | Investment Advisor | $5,375 | — | $5,375 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- JOHN HANCOCK LIFE INSURANCE COMPANY — Recordkeeper
- TRANSAMERICA RETIREMENT SOLUTIONS — Recordkeeper
- MERRILL LYNCH — Investment Advisor
- KESTRA ADVISORY SERVICES — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $260,204
- Estimated Expense Ratio: 0.254% 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 | $262,204 | $28,239 | — | $13,800 | — |
| 2023 | $200,021 | $32,320 | $167,701 | — | — |
| 2022 | $20,243 | — | $20,243 | — | — |