# Merchants Bancorp 401(k) Plan
Source: https://planprovider.pro/companies/merchants-bancorp-401k-plan

> Merchants Bancorp's 401(k) plan: 647 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/charles-schwab-and-co-inc) — INVESTMENT ADVISORY

- [FORVIS MAZARS](https://planprovider.pro/provider/forvis-mazars-llp) — 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|—|—|

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