Plan Snapshot
- Plan Sponsor: Innovation Ventures, LLC
- Sponsor EIN: 383543942
- Sponsor Address: 38955 HILLS TECH DRIVE, FARMINGTON HILLS, MI, 48331
- Plan Type: 401(k)
- Total Participants: 436
- Total Assets: $32.4M
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 | 436 | $32.4M | $1.6M | $3.0M |
| 2023 | 502 | $27.5M | $1.3M | $2.4M |
| 2022 | 427 | $21.8M | $1.1M | $2.1M |
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 |
|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE COMPANY O | RECORDKEEPER | $58,235 | — | $58,235 |
| CAPFINANCIAL PARTNERS LLC DBA CAPTR | INVESTMENT ADVISOR | $43,484 | — | $43,484 |
| EMPOWER ADVISORY GROUP, LLC | INVESTMENT MGMT | $32,799 | — | $32,799 |
| BAKER TILLY US, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BAKER TILLY US, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $134,518
- Estimated Expense Ratio: 0.415% 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 | $134,518 | $76,283 | — | — | — |
| 2023 | $130,041 | $75,750 | — | — | — |
| 2022 | $82,045 | — | $82,045 | — | — |