Plan Snapshot
- Plan Sponsor: Keweenaw Bay Indian Community
- Sponsor EIN: 381743340
- Sponsor Address: 16429 BEARTOWN ROAD, BARAGA, MI, 49908
- Plan Type: 401(k)
- Total Participants: 558
- Total Assets: $31.6M
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 | 558 | $31.6M | $1.1M | $1.3M |
| 2023 | 556 | $29.3M | $1.0M | $1.2M |
| 2022 | 383 | $24.7M | $941,428 | $1.1M |
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 |
|---|---|---|---|---|
| GLOBAL RETIREMENT PARTNERS LLC | INVESTMENT ADVISOR | $73,488 | — | $73,488 |
| EMPOWER ANNUITY INSURANCE COMPANY | RECORDKEEPER | $63,894 | — | $63,894 |
| MRPR GROUP PC | AUDITOR | $14,000 | — | $14,000 |
| EMPOWER ADVISORY GROUP, LLC | INVESTMENT MGMT | $5,048 | — | $5,048 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $156,430
- Estimated Expense Ratio: 0.495% 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 | $156,430 | $78,536 | — | $14,000 | — |
| 2023 | $137,258 | $66,284 | — | $14,000 | — |
| 2022 | $188,343 | $167,442 | $20,901 | — | — |