Plan Snapshot
- Plan Sponsor: Minnkota Power Cooperative, INC.
- Sponsor EIN: 450166406
- Sponsor Address: 5301 32ND AVE S, GRAND FORKS, ND, 582013312
- Plan Type: 401(k)
- Total Participants: 380
- Total Assets: $89.5M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 380 | $89.5M | $6.2M | $1,200 |
| 2023 | 377 | $80.3M | $5.9M | $1,200 |
| 2022 | 361 | $70.0M | $5.5M | $0 |
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 |
|---|---|---|---|---|
| THOMAS WEISEL PARTNERS | NONE | $225,602 | — | $225,602 |
| BRADY MARTZ & ASSOCIATES | NONE | $5,357 | — | $5,357 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BRADY MARTZ & ASSOCIATES — NONE
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $230,959
- Estimated Expense Ratio: 0.258% 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 | $355,155 | $349,798 | — | $5,357 | — |
| 2023 | $335,120 | $311,910 | — | $5,000 | — |
| 2022 | $341,895 | $315,362 | — | — | $10,000 |