Plan Snapshot
- Plan Sponsor: Texas Tech Federal Credit Union
- Sponsor EIN: 751157852
- Sponsor Address: BOX 41072, LUBBOCK, TX, 79409
- Plan Type: 401(k)
- Total Participants: 113
- Total Assets: $6.1M
Key Plan Design Features
- Auto-Enrollment: No
- 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 | 113 | $6.1M | $484,426 | $572,770 |
| 2023 | 113 | $5.3M | $510,504 | $608,421 |
| 2022 | 117 | $4.7M | $546,596 | $637,524 |
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 | CONTRACT ADMINISTRATOR | $34,506 | — | $34,506 |
| BOLINGER, SEGARS, GILBERT & MOSS LL | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $34,506
- Estimated Expense Ratio: 0.569% 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 | $34,506 | — | $34,506 | — | — |
| 2023 | $28,948 | — | $28,948 | — | — |
| 2022 | $28,276 | — | $28,276 | — | — |