Plan Snapshot
- Plan Sponsor: Terrabank, N.A.
- Sponsor EIN: 592532510
- Sponsor Address: 3191 CORAL WAY, MIAMI, FL, 33145
- Plan Type: 401(k)
- Total Participants: 116
- Total Assets: $6.2M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- 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 | 116 | $6.2M | $125,000 | $495,561 |
| 2023 | 131 | $6.2M | $119,999 | $455,059 |
| 2022 | 119 | $5.1M | $99,762 | $426,781 |
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 |
|---|---|---|---|---|
| PAAST, P.L. | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 | $4,766 | — | $4,766 | — | — |
| 2023 | — | — | — | — | — |
| 2022 | — | — | — | — | — |