Plan Snapshot
- Plan Sponsor: Rural Minnesota Cep
- Sponsor EIN: 410942639
- Sponsor Address: 803 ROOSEVELT AVENUE, DETROIT LAKES, MN, 56502
- Plan Type: 403(b)
- Total Participants: 84
- Total Assets: $5.8M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: Yes
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 84 | $5.8M | $189,932 | $344,733 |
| 2023 | 80 | $5.0M | $174,749 | $292,559 |
| 2022 | 73 | $4.8M | $156,737 | $273,875 |
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 |
|---|---|---|---|---|
| EMPOWER ANNUITY INS CO OF AMERICA | Recordkeeper | $27,393 | — | $27,393 |
| SECURITIES AMERICA ADVISORS, INC | Investment Advisor | $15,621 | — | $15,621 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $43,014
- Estimated Expense Ratio: 0.738% 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 | $26,752 | — | — | — | — |
| 2023 | $22,791 | — | — | — | — |
| 2022 | $5,889 | $5,889 | — | — | — |