Plan Snapshot
- Plan Sponsor: Joint Board Of Trustees Operating Engineers' Local 324 Retiree Ben Fd
- Sponsor EIN: 382342972
- Sponsor Address: 500 HULET DRIVE, BLOOMFIELD TWP, MI, 48302
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 6,681
- Total Assets: $3.2M
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 | 6,681 | $3.2M | $5.0M | $0 |
| 2023 | 6,865 | $3.1M | $4.8M | $0 |
| 2022 | 6,814 | $2.9M | $4.4M | $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 |
|---|---|---|---|---|
| SOLXSYS ADMINISTRATIVE SOLUTIONS | Other Service Provider | $24,041 | — | $24,041 |
| PLANTE & MORAN, PLLC | Other Service Provider | $18,020 | — | $18,020 |
| ZENWORK | Other Service Provider | $8,987 | — | $8,987 |
| AMERICAN GRAPHICS PRINTING CO. | Other Service Provider | $5,843 | — | $5,843 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $56,891
- Estimated Expense Ratio: 1.774% 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 | $75,708 | — | $24,000 | $18,020 | — |
| 2023 | $75,029 | — | $24,000 | $13,850 | — |
| 2022 | $77,005 | — | $24,000 | — | $22,148 |