Plan Snapshot
- Plan Sponsor: Stearns Financial Services, INC.
- Sponsor EIN: 411655119
- Sponsor Address: 4191 2ND ST S, ST CLOUD, MN, 563027338
- Plan Type: DC
- Total Participants: 472
- Total Assets: $143.5M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 472 | $143.5M | $2.5M | $0 |
| 2023 | 454 | $132.0M | $2.5M | $0 |
| 2022 | 445 | $143.2M | $3.8M | $0 |
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 | CONTRACT ADMINISTRATOR | $31,971 | — | $31,971 |
| CLIFTONLARSONALLEN LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- CLIFTONLARSONALLEN LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $31,971
- Estimated Expense Ratio: 0.022% 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 | $31,971 | — | $31,971 | — | — |
| 2023 | $34,070 | — | $34,070 | — | — |
| 2022 | $35,131 | — | $35,131 | — | — |