Plan Snapshot
- Plan Sponsor: Island Federal Credit Union
- Sponsor EIN: 111814791
- Sponsor Address: 120 MOTOR PKWY, HAUPPAUGE, NY, 11788
- Plan Type: DB
- Total Participants: 82
- Total Assets: $38.6M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 82 | $38.6M | $0 | $0 |
| 2023 | 106 | $39.2M | $0 | $0 |
| 2022 | 120 | $34.3M | $0 | $0 |
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 |
|---|---|---|---|---|
| GALLAGHER FIDUCIARY ADVISORS, LLC | Investment Advisor | $48,000 | — | $48,000 |
| GALLAGHER BENEFIT SERVICES, INC. | Investment Advisor | $37,500 | — | $37,500 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- GALLAGHER FIDUCIARY ADVISORS, LLC — Investment Advisor
- GALLAGHER BENEFIT SERVICES, INC. — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $85,500
- Estimated Expense Ratio: 0.222% 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 | $85,500 | $48,000 | — | — | — |
| 2023 | $36,000 | $36,000 | — | — | — |
| 2022 | $4,589 | — | — | — | — |