Plan Snapshot
- Plan Sponsor: Midwest Railcar Repair, INC.
- Sponsor EIN: 460402930
- Sponsor Address: 25965 482ND AVENUE, BRANDON, SD, 57005
- Plan Type: 401(k)
- Total Participants: 144
- Total Assets: $11.3M
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 | 144 | $11.3M | $464,163 | $764,910 |
| 2023 | 114 | $8.7M | $352,237 | $587,306 |
| 2022 | 112 | $6.7M | $285,431 | $479,757 |
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 |
|---|---|---|---|---|
| ALERUS FINANCIAL, N.A. | NONE | $49,064 | — | $49,064 |
| KETEL THORSTENSON, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- ALERUS FINANCIAL, N.A. — NONE
- KETEL THORSTENSON, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $49,064
- Estimated Expense Ratio: 0.435% 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 | $48,725 | $47,225 | — | — | — |
| 2023 | $44,938 | $43,130 | — | — | — |
| 2022 | $41,521 | $39,111 | $2,410 | — | — |