Plan Snapshot
- Plan Sponsor: New Paradigm For Education
- Sponsor EIN: 272059007
- Sponsor Address: 3403 ST AUBIN, DETROIT, MI, 48207
- Plan Type: 401(k)
- Total Participants: 244
- Total Assets: $5.0M
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 | 244 | $5.0M | $247,790 | $714,072 |
| 2023 | 260 | $4.4M | $295,539 | $775,726 |
| 2022 | 129 | $3.4M | $206,961 | $556,816 |
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 |
|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE COMPANY | Recordkeeper | $23,477 | — | $23,477 |
| LPL FINANCIAL | Investment Advisor | $17,587 | — | $17,587 |
| EMPOWER ADVISORY GROUP, LLC | Investment Advisor | $13,269 | — | $13,269 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $54,333
- Estimated Expense Ratio: 1.079% 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 | $54,333 | $30,856 | — | — | — |
| 2023 | $43,092 | $25,259 | — | — | — |
| 2022 | $74,920 | — | — | — | — |