Plan Snapshot
- Plan Sponsor: Spero Financial Federal Credit Union
- Sponsor EIN: 570310635
- Sponsor Address: 420 E. PARK AVENUE SUITE 100, GREENVILLE, SC, 29601
- Plan Type: 401(k)
- Plan Number: 003
- Total Participants: 228
- Total Assets: $25.7M
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. |
|---|---|---|---|---|
| 2025 | 228 | $25.7M | $0 | $0 |
| 2024 | 157 | $22.7M | $552,115 | $996,408 |
| 2023 | 160 | $19.8M | $829,739 | $882,071 |
| 2022 | 144 | $16.0M | $730,967 | $798,656 |
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 |
|---|---|---|---|---|
| NORTHBRIDGE WEALTH MANAGEMENT | Investment Advisor | $58,125 | — | $58,125 |
| UNIFIED TRUST COMPANY NA | Other Service Provider | $22,335 | $21,780 | $44,115 |
| FUTUREPLAN BY ASCENSUS | Recordkeeper | $5,428 | — | $5,428 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $107,668
- Estimated Expense Ratio: 0.419% 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 |
|---|---|---|---|---|---|
| 2025 | $1,773,634 | — | $85,888 | — | — |
| 2024 | $70,470 | — | $70,470 | — | — |
| 2023 | $58,865 | $40,998 | — | — | — |
| 2022 | $67,962 | — | — | — | — |