Plan Snapshot
- Plan Sponsor: Ofta, LLC
- Sponsor EIN: 262788342
- Sponsor Address: 921 N DIVISION AVE., GRAND RAPIDS, MI, 49503
- Plan Type: 401(k)
- Total Participants: 235
- Total Assets: $10.2M
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 | 235 | $10.2M | $335,034 | $890,148 |
| 2023 | 241 | $8.4M | $280,144 | $876,255 |
| 2022 | 273 | $6.3M | $317,286 | $954,847 |
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 |
|---|---|---|---|---|
| JOHN HANCOCK | RETAINED BY EMPLOYER | $33,989 | — | $33,989 |
| FENNER, MELSTORM & DOOLING, PLC | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- JOHN HANCOCK — RETAINED BY EMPLOYER
- FENNER, MELSTORM & DOOLING, PLC — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $33,989
- Estimated Expense Ratio: 0.332% 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 | $33,989 | $450 | $33,539 | — | — |
| 2023 | $18,570 | $370 | $18,200 | — | — |
| 2022 | $4,986 | $42 | $4,944 | — | — |