Plan Snapshot
- Plan Sponsor: Macatawa Bank
- Sponsor EIN: 383378283
- Sponsor Address: 10753 MACATAWA DRIVE, HOLLAND, MI, 494249572
- Plan Type: 401(k)
- Total Participants: 0
- Total Assets: $0
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 | 0 | $0 | $485,091 | $1.0M |
| 2023 | 329 | $38.0M | $790,455 | $1.6M |
| 2022 | 331 | $32.5M | $754,870 | $1.5M |
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 |
|---|---|---|---|---|
| MACATAWA BANK RETIREMENT PLAN SERV. | TRUSTEE/RECORDKEEPER/ADV | $39,666 | — | $39,666 |
| BDO USA, P.C. | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BDO USA, P.C. — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $39,666
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 | $131,552 | — | — | — | — |
| 2023 | $19,833 | — | — | — | — |
| 2022 | $23,168 | — | $23,168 | — | — |