Plan Snapshot
- Plan Sponsor: Minnesota Timberwolves Basketball, LP
- Sponsor EIN: 411796677
- Sponsor Address: THE COURTS AT MAYO CLINIC SQUARE, MINNEAPOLIS, MN, 55403
- Plan Type: 401(k)
- Total Participants: 319
- Total Assets: $24.9M
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: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 319 | $24.9M | $604,257 | $2.5M |
| 2023 | 258 | $19.8M | $503,165 | $2.1M |
| 2022 | 228 | $14.4M | $397,991 | $1.7M |
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 |
|---|---|---|---|---|
| MERRILL LYNCH, PIERCE, FENNER AND S | RECORDKEEPER | $46,302 | — | $46,302 |
| EIDE BAILLY LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- EIDE BAILLY LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $46,302
- Estimated Expense Ratio: 0.186% 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 | $46,302 | — | — | — | — |
| 2023 | $13,312 | — | — | — | — |
| 2022 | $2,831 | — | — | — | — |