Plan Snapshot
- Plan Sponsor: Sound Credit Union
- Sponsor EIN: 910557925
- Sponsor Address: PO BOX 1595, TACOMA, WA, 98401
- Plan Type: 401(k)
- Total Participants: 401
- Total Assets: $58.3M
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 | 401 | $58.3M | $2.6M | $2.0M |
| 2023 | 359 | $46.8M | $2.3M | $1.8M |
| 2022 | 339 | $33.9M | $2.1M | $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 |
|---|---|---|---|---|
| SPECTRUM PENSION CONSULTANTS, INC. | NONE | $115,324 | — | $115,324 |
| BAKER TILLY US, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BAKER TILLY US, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $115,324
- Estimated Expense Ratio: 0.198% 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 | $115,324 | — | $115,324 | — | — |
| 2023 | $99,156 | — | $99,156 | — | — |
| 2022 | $97,282 | — | $97,282 | — | — |