Plan Snapshot
- Plan Sponsor: Multi-Bank Services, Ltd.
- Sponsor EIN: 382584711
- Sponsor Address: 1000 TOWN CENTER DRIVE #2300, SOUTHFIELD, MI, 48075
- Plan Type: 401(k)
- Total Participants: 115
- Total Assets: $25.0M
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 | 115 | $25.0M | $0 | $1.5M |
| 2023 | 120 | $21.1M | $0 | $1.4M |
| 2022 | 119 | $17.8M | $0 | $1.4M |
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 |
|---|---|---|---|---|
| CARNAGHI & SCHWARK PLLC | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 | $18,266 | $4,553 | $13,713 | — | — |
| 2023 | $16,725 | $3,879 | $12,846 | — | — |
| 2022 | $17,364 | $3,895 | $13,469 | — | — |