Plan Snapshot
- Plan Sponsor: Merchants Bancorp
- Sponsor EIN: 350352710
- Sponsor Address: 410 MONON BLVD, CARMEL, IN, 46032
- Plan Type: 401(k)
- Total Participants: 647
- Total Assets: $45.8M
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 | 647 | $45.8M | $2.2M | $5.2M |
| 2023 | 609 | $35.8M | $1.9M | $4.3M |
| 2022 | 547 | $23.7M | $1.6M | $3.7M |
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 | $101,477 | — | $101,477 |
| MORGAN STANLEY GLOBAL | INVESTMENT ADVISORY | $70,103 | — | $70,103 |
| FORVIS MAZARS | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- MORGAN STANLEY GLOBAL — INVESTMENT ADVISORY
- FORVIS MAZARS — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $171,580
- Estimated Expense Ratio: 0.375% 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 | $171,557 | $70,079 | $101,478 | — | — |
| 2023 | $104,062 | $27,650 | $76,412 | — | — |
| 2022 | $92,275 | $34,798 | $57,477 | — | — |