# Innovative Payroll Processing, INC. (Mep) 401(k) Plan
Source: https://planprovider.pro/companies/innovative-payroll-processing-inc-mep-401k-plan

> Innovative Payroll Processing, INC. (Mep)'s 401(k) plan: 426 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Innovative Payroll Processing, INC. (Mep)

- **Sponsor EIN:** 203907862

- **Sponsor Address:** 12740 W WARREN SUITE 200, DEARBORN, MI, 48126

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

- **Total Participants:** 426

- **Total Assets:** $6.2M

## 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|426|$6.2M|$172,590|$728,309|

| 2023|421|$3.8M|$402,888|$808,259|

| 2022|139|$1.9M|$100,621|$503,068|

## 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|

| CENKO VENDITTELLI HAYNES&TOKARZ PLC|Auditor|—|—|$0|

## Plan Fees & Expenses

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

- **Total Service Provider Fees:** $0

### 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|$98,704|—|$98,704|—|—|

| 2023|$53,801|—|$53,801|—|—|

| 2022|—|—|—|—|—|

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