Plan Snapshot
- Plan Sponsor: Rbc Ministries Dba Our Daily Bread Ministries
- Sponsor EIN: 381613981
- Sponsor Address: 3000 KRAFT AVENUE, GRAND RAPIDS, MI, 495122024
- Plan Type: 401(k)
- Total Participants: 274
- Total Assets: $29.8M
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 | 274 | $29.8M | $721,637 | $2.1M |
| 2023 | 266 | $27.5M | $691,565 | $1.9M |
| 2022 | 281 | $24.3M | $680,620 | $1.8M |
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 | $95,642 | — | $95,642 |
| LPL FINANCIAL LLC - RPCP | INVESTMENT ADVISORY | — | $62,471 | $62,471 |
| WATKINS ROSS & CO | OTHER SERVICES | — | $9,703 | $9,703 |
| CAPIN CROUSE LLC | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $167,816
- Estimated Expense Ratio: 0.564% 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 | $95,643 | — | $95,643 | — | — |
| 2023 | $83,233 | — | $83,233 | — | — |
| 2022 | $89,191 | — | $88,791 | — | $400 |