Plan Snapshot
- Plan Sponsor: Maine Credit Union League Insurance Trust
- Sponsor EIN: 836759671
- Sponsor Address: 2 LEDGEVIEW DRIVE, WESTBROOK, ME, 04092
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 639
- Total Assets: $2.1M
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 | 639 | $2.1M | $8.0M | $0 |
| 2023 | 891 | $1.9M | $8.4M | $0 |
| 2022 | 1,138 | $2.4M | $7.9M | $0 |
| 2019 | 907 | $1.7M | $5.8M | $0 |
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 |
|---|---|---|---|---|
| CU INSURANCE SOLUTIONS | Insurance Carrier | $240,526 | — | $240,526 |
| COMMUNITY HEALTH OPTIONS | Recordkeeper | $196,452 | — | $196,452 |
| BERNSTEIN SHUR SAWYER & NELSON P.A. | ERISA Attorney | $143,606 | — | $143,606 |
| WOODROW W. CROSS AGENCY | Insurance Carrier | $128,911 | — | $128,911 |
| RUBENSTEIN ACTUARIAL SERVICES, LLC | Actuary | $44,000 | — | $44,000 |
| WIPFLI LLP | Other Service Provider | $28,450 | — | $28,450 |
| SMARTSHOPPER | Recordkeeper | $27,811 | — | $27,811 |
| ANTHEM HEALTH PLANS OF MAINE, INC. | Recordkeeper | — | $26,921 | $26,921 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $836,677
- Estimated Expense Ratio: 40.071% 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 | $951,170 | $3,856 | $654,625 | $28,450 | — |
| 2023 | $1,010,043 | $3,610 | $755,042 | $30,025 | — |
| 2022 | $945,918 | $7,264 | $770,572 | — | $77,383 |
| 2019 | $649,486 | $6,689 | $534,569 | — | $55,882 |