Plan Snapshot
- Plan Sponsor: Lafayette Federal Credit Union
- Sponsor EIN: 530197895
- Sponsor Address: 2701 TOWER OAKS BOULEVARD, ROCKVILLE, MD, 208524209
- Plan Type: 401(k)
- Total Participants: 193
- Total Assets: $29.9M
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: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 193 | $29.9M | $1.6M | $1.3M |
| 2023 | 167 | $25.3M | $440,637 | $1.1M |
| 2022 | 145 | $20.9M | $1.2M | $942,826 |
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 | $112,530 | — | $112,530 |
| ROYAL ALLIANCE ASSOCIATES INC | INVESTMENT ADVISORY | — | $44,148 | $44,148 |
| LAFAYETTE FEDERAL CREDIT UNION | OTHER SERVICES | — | $10,120 | $10,120 |
| CLIFTONLARSONALLEN, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- ROYAL ALLIANCE ASSOCIATES INC — INVESTMENT ADVISORY
- CLIFTONLARSONALLEN, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $166,798
- Estimated Expense Ratio: 0.557% 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 | $112,531 | — | $112,531 | — | — |
| 2023 | $90,280 | — | $90,280 | — | — |
| 2022 | $64,685 | — | $64,685 | — | — |