# Preferred Credit, INC. 401(k) Plan
Source: https://planprovider.pro/companies/preferred-credit-inc-401k-plan

> Preferred Credit, INC.'s 401(k) plan: 238 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Preferred Credit, INC.

- **Sponsor EIN:** 411643940

- **Sponsor Address:** 628 ROOSEVELT ROAD, SAINT CLOUD, MN, 563014867

- **Plan Type:** 401(k)

- **Total Participants:** 238

- **Total Assets:** $21.8M

## 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|238|$21.8M|$829,577|$1.4M|

| 2023|232|$17.5M|$734,082|$1.3M|

| 2022|230|$13.5M|$979,840|$1.1M|

## 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|

| PRINCIPAL LIFE INSURANCE COMPANY|CONTRACT ADMINISTRATOR|$29,122|—|$29,122|

| STRONG TOWER ADVISORY SERVICES|INVESTMENT ADVISORY|$16,643|$24|$16,667|

| CLIFTON LARSON ALLEN LLP|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [STRONG TOWER ADVISORY SERVICES](https://planprovider.pro/provider/strong-tower-advisory-services) — INVESTMENT ADVISORY

- [CLIFTON LARSON ALLEN LLP](https://planprovider.pro/provider/cliftonlarsonallen-llp) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $45,789

- **Estimated Expense Ratio:** 0.210% 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|$97,730|$16,655|$81,075|—|—|

| 2023|$33,488|$29,300|—|—|—|

| 2022|$33,492|—|—|—|—|

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