Plan Snapshot
- Plan Sponsor: Northwest Financial Corp
- Sponsor EIN: 421325482
- Sponsor Address: 431 202ND STREET, ARNOLDS PARK, IA, 51331
- Plan Type: 401(k)
- Total Participants: 409
- Total Assets: $65.6M
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 | 409 | $65.6M | $1.3M | $3.4M |
| 2023 | 397 | $58.7M | $1.1M | $3.3M |
| 2022 | 396 | $51.7M | $1.1M | $3.1M |
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 |
|---|---|---|---|---|
| AVANTAX PLANNING PARTNERS INC. | NONE | $93,702 | — | $93,702 |
| BAM ADVISOR SERVICES | NONE | $50,150 | — | $50,150 |
| ALERUS FINANCIAL, N.A. | NONE | $14,080 | — | $14,080 |
| CHARLES SCHWAB TRUST BANK | NONE | — | $9,146 | $9,146 |
| CLIFTONLARSONALLEN, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- AVANTAX PLANNING PARTNERS INC. — NONE
- ALERUS FINANCIAL, N.A. — NONE
- CHARLES SCHWAB TRUST BANK — NONE
- CLIFTONLARSONALLEN, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $167,078
- Estimated Expense Ratio: 0.255% 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 | $157,931 | $149,886 | — | — | — |
| 2023 | $139,609 | $131,531 | — | — | — |
| 2022 | $135,470 | $126,538 | — | — | — |