# Innovance, INC. 401(k) Plan
Source: https://planprovider.pro/companies/innovance-inc-401k-plan-002

> Innovance, INC.'s 401(k) plan: 377 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Innovance, INC.

- **Sponsor EIN:** 410980946

- **Sponsor Address:** 505 WEST FRONT STREET, ALBERT LEA, MN, 56007

- **Plan Type:** 401(k)

- **Total Participants:** 377

- **Total Assets:** $34.1M

## 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|377|$34.1M|$0|$1.4M|

| 2023|394|$30.9M|$0|$1.3M|

| 2022|416|$28.1M|$0|$1.2M|

## 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 ADMINISTRATOR|$55,761|—|$55,761|

| INTELLICENTS INVESTMENT SOLUTIONS|INVESTMENT ADVISORY|$44,161|$25|$44,186|

| CLIFTONLARSONALLEN LLP|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [INTELLICENTS INVESTMENT SOLUTIONS](https://planprovider.pro/provider/intellicents-inc) — INVESTMENT ADVISORY

- [CLIFTONLARSONALLEN LLP](https://planprovider.pro/provider/cliftonlarsonallen-llp) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $99,947

- **Estimated Expense Ratio:** 0.293% 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|$99,922|$44,161|$55,761|—|—|

| 2023|$91,701|$39,596|$52,105|—|—|

| 2022|$93,158|$41,556|$51,602|—|—|

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