Plan Snapshot
- Plan Sponsor: Life Center, Incorporated
- Sponsor EIN: 382418870
- Sponsor Address: 19575 VICTOR PARKWAY, LIVONIA, MI, 48152
- Plan Type: Health & Welfare
- Plan Number: 502
- Total Participants: 74
- Total Assets: $25,213
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 | 74 | $25,213 | $505,679 | $263,173 |
| 2023 | 85 | $16,313 | $103,174 | $64,596 |
| 2022 | 90 | $39,030 | $384,906 | $241,975 |
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 |
|---|---|---|---|---|
| CIA (HILB) | Investment Advisor | $34,545 | — | $34,545 |
| THE BENECON GROUP | Investment Advisor | $18,546 | — | $18,546 |
| MERITAIN HEALTH, AN AETNA COMPANY | Other Service Provider | $7,057 | — | $7,057 |
| CONNECTCARE3 | Other Service Provider | $5,231 | — | $5,231 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $65,379
- Estimated Expense Ratio: 259.307% 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 | $1,145,572 | — | — | — | — |
| 2023 | -$138,008 | — | — | — | — |
| 2022 | $654,257 | — | — | — | — |