# Mission Economic Development Agency 401(k) Plan
Source: https://planprovider.pro/companies/mission-economic-development-agency-401k-plan

> Mission Economic Development Agency's 401(k) plan: 85 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Mission Economic Development Agency

- **Sponsor EIN:** 510187791

- **Sponsor Address:** 2301 MISSION STREET, SUITE 301, SAN FRANCISCO, CA, 94110

- **Plan Type:** 401(k)

- **Total Participants:** 85

- **Total Assets:** $6.7M

## 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|85|$6.7M|$240,181|$821,605|

| 2023|94|$5.3M|$224,462|$753,313|

| 2022|86|$4.0M|$246,033|$581,607|

## 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|$40,276|—|$40,276|

| NEWFRONT RETIREMENT SERVICES, INC.|INVESTMENT ADVISORY|—|$20,967|$20,967|

| LBMC, PC|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [LBMC, PC](https://planprovider.pro/provider/lbmc-pc) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $61,243

- **Estimated Expense Ratio:** 0.919% 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|$40,276|—|$40,276|—|—|

| 2023|$32,155|—|$32,155|—|—|

| 2022|$23,840|—|$23,840|—|—|

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