Plan Snapshot
- Plan Sponsor: Lacks Enterprises, INC.
- Sponsor EIN: 382650857
- Sponsor Address: 5460 CASCADE RD SE, GRAND RAPIDS, MI, 495466406
- Plan Type: 401(k)
- Total Participants: 2,238
- Total Assets: $240.6M
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. |
|---|---|---|---|---|
| 2024 | 2,238 | $240.6M | $1.9M | $10.1M |
| 2023 | 2,312 | $223.9M | $1.8M | $9.9M |
| 2022 | 2,275 | $203.4M | $1.6M | $9.6M |
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 | CONTRACT ADMINISTRATOR | $383,733 | $11,589 | $395,322 |
| WELLS FARGO ADVISORS | CONSULTANT | $60,000 | $60,000 | $120,000 |
| HUNGERFORD | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- HUNGERFORD — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $515,322
- Estimated Expense Ratio: 0.214% 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 | $515,292 | $119,970 | $395,322 | — | — |
| 2023 | $483,255 | $99,624 | $383,631 | — | — |
| 2022 | $468,624 | $90,000 | $378,624 | — | — |