Plan Snapshot
- Plan Sponsor: Itc Incorporated
- Sponsor EIN: 382412680
- Sponsor Address: 3030 CORPORATE GROVE DRIVE, HUDSONVILLE, MI, 494268023
- Plan Type: 401(k)
- Plan Number: 002
- Total Participants: 140
- Total Assets: $10.4M
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. |
|---|---|---|---|---|
| 2025 | 140 | $10.4M | $0 | $0 |
| 2024 | 115 | $9.1M | $359,331 | $865,947 |
| 2023 | 132 | $7.5M | $376,089 | $874,154 |
| 2022 | 123 | $5.8M | $330,661 | $738,095 |
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 | Recordkeeper | $46,739 | — | $46,739 |
| PRINCIPAL SECURITIES INC | Investment Advisor | — | $22,728 | $22,728 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $69,467
- Estimated Expense Ratio: 0.666% 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 |
|---|---|---|---|---|---|
| 2025 | $1,343,391 | — | $46,739 | — | — |
| 2024 | $43,005 | — | $43,005 | — | — |
| 2023 | $47,510 | — | $47,510 | — | — |
| 2022 | $273,973 | — | — | — | — |