Plan Snapshot
- Plan Sponsor: Minnesota Urology P.A.
- Sponsor EIN: 410960332
- Sponsor Address: 3001 METRO DRIVE, BLOOMINGTON, MN, 55425
- Plan Type: 401(k)
- Total Participants: 257
- Total Assets: $54.2M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: Yes
- 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 | 257 | $54.2M | $2.2M | $1.5M |
| 2023 | 216 | $52.5M | $2.0M | $1.3M |
| 2022 | 203 | $47.0M | $1.9M | $1.2M |
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 | Recordkeeper | $50,373 | — | $50,373 |
| ACUMEN FINANCIAL ADVISORS LLC | Other Service Provider | $40,462 | — | $40,462 |
| UBS FINANCIAL SERVICES, INC. | Other Service Provider | $39,689 | — | $39,689 |
| PARATUS WEALTH MANAGEMENT LLC | Other Service Provider | $31,287 | — | $31,287 |
| RBC WEALTH MANAGEMENT | Other Service Provider | $19,458 | — | $19,458 |
| BOULAY FINANCIAL ADVISORS LLC | Other Service Provider | $15,162 | — | $15,162 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $196,431
- Estimated Expense Ratio: 0.363% 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 | $216,353 | $152,308 | $64,045 | — | — |
| 2023 | $220,473 | — | $220,473 | — | — |
| 2022 | $212,460 | — | $212,460 | — | — |