Plan Snapshot
- Plan Sponsor: Innovative Resources For Independence
- Sponsor EIN: 133490223
- Sponsor Address: 2016 LINDEN BOULEVARD, ELMONT, NY, 11003
- Plan Type: 403(b)
- Plan Number: 001
- Total Participants: 591
- Total Assets: $4.0M
Key Plan Design Features
- Auto-Enrollment: No
- 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 | 591 | $4.0M | $68,040 | $372,058 |
| 2023 | 496 | $3.8M | $67,049 | $357,912 |
| 2022 | 466 | $3.3M | $63,180 | $310,571 |
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 |
|---|---|---|---|---|
| EQUITABLE FINANCIAL LIFE INSURANCE | Recordkeeper | $15,761 | $22,221 | $37,982 |
| PENSERV | Recordkeeper | $21,260 | — | $21,260 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- EQUITABLE FINANCIAL LIFE INSURANCE — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $59,242
- Estimated Expense Ratio: 1.476% 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 | $38,170 | $15,761 | $21,390 | — | — |
| 2023 | $32,845 | $14,155 | $17,637 | — | — |
| 2022 | $1,186 | $1,186 | — | — | — |