Plan Snapshot
- Plan Sponsor: Penske Corporation
- Sponsor EIN: 231717338
- Sponsor Address: 2555 TELEGRAPH ROAD, BLOOMFIELD HILLS, MI, 48302
- Plan Type: 401(k)
- Total Participants: 91
- Total Assets: $90.9M
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 | 91 | $90.9M | $567,538 | $1.8M |
| 2023 | 84 | $75.8M | $535,887 | $1.6M |
| 2022 | 83 | $66.6M | $512,944 | $1.5M |
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 | $27,488 | — | $27,488 |
| FAEGRE DRINKER BIDDLE & | CONTRACT ADMINISTRATOR | $13,638 | — | $13,638 |
| USI CONSULTING GROUP | INVESTMENT ADVISORY | $11,157 | — | $11,157 |
| MERCER | INVESTMENT ADVISORY | $5,250 | — | $5,250 |
| PLANTE & MORAN, PLLC | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FAEGRE DRINKER BIDDLE & — CONTRACT ADMINISTRATOR
- PLANTE & MORAN, PLLC — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $57,533
- Estimated Expense Ratio: 0.063% 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 | $57,234 | $16,408 | $27,266 | — | — |
| 2023 | $22,285 | — | $22,285 | — | — |
| 2022 | $44,884 | — | $44,884 | — | — |