Plan Snapshot
- Plan Sponsor: Success Mortgage Partners, INC.
- Sponsor EIN: 010759540
- Sponsor Address: 1200 S SHELDON RD SUITE 100, PLYMOUTH, MI, 481702187
- Plan Type: 401(k)
- Total Participants: 411
- Total Assets: $9.1M
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 | 411 | $9.1M | $0 | $926,832 |
| 2023 | 410 | $8.0M | $0 | $946,337 |
| 2022 | 433 | $6.8M | $0 | $1.7M |
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 | Recordkeeper | $65,683 | — | $65,683 |
| PRINCIPAL SECURITIES INC | Other Service Provider | — | $31,383 | $31,383 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $97,066
- Estimated Expense Ratio: 1.063% 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 | $65,683 | — | $65,683 | — | — |
| 2023 | $61,567 | — | $61,567 | — | — |
| 2022 | $67,182 | — | $67,182 | — | — |