Plan Snapshot
- Plan Sponsor: Mayo Employees Federal Credit Union
- Sponsor EIN: 410400045
- Sponsor Address: 130 - 23RD AVENUE SW, ROCHESTER, MN, 55902
- Plan Type: 401(k)
- Total Participants: 123
- Total Assets: $5.9M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- 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 | 123 | $5.9M | $320,271 | $622,148 |
| 2023 | 127 | $4.6M | $303,543 | $592,191 |
| 2022 | 112 | $3.2M | $282,431 | $555,332 |
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 |
|---|---|---|---|---|
| DOEREN MAYHEW ASSURANCE | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- DOEREN MAYHEW ASSURANCE — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 | $25,871 | — | $25,871 | — | — |
| 2023 | $18,288 | — | $18,288 | — | — |
| 2022 | $16,532 | — | $16,532 | — | — |