Plan Snapshot
- Plan Sponsor: Matcor Automotive (Michigan), INC.
- Sponsor EIN: 421769431
- Sponsor Address: 401 S STEELE ST, IONIA, MI, 488469401
- Plan Type: 401(k)
- Total Participants: 1,220
- Total Assets: $41.4M
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 | 1,220 | $41.4M | $515,605 | $2.4M |
| 2023 | 1,174 | $38.8M | $640,480 | $2.5M |
| 2022 | 1,137 | $34.5M | $437,338 | $2.1M |
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 | $169,202 | — | $169,202 |
| NEXT FINANCIAL GROUP INC | INVESTMENT ADVISORY | — | $46,850 | $46,850 |
| 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: $216,052
- Estimated Expense Ratio: 0.522% 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 | $169,203 | — | $169,203 | — | — |
| 2023 | $143,298 | — | $143,298 | — | — |
| 2022 | $136,712 | — | $136,712 | — | — |