Plan Snapshot
- Plan Sponsor: The Detroit Institute Of Arts
- Sponsor EIN: 381359510
- Sponsor Address: 5200 WOODWARD AVE., DETROIT, MI, 48202
- Plan Type: 401(k)
- Total Participants: 358
- Total Assets: $23.2M
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 | 358 | $23.2M | $1.1M | $1.3M |
| 2023 | 355 | $19.2M | $940,401 | $1.1M |
| 2022 | 354 | $16.1M | $834,086 | $1.0M |
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 |
|---|---|---|---|---|
| ALERUS FINANCIAL, N.A. | Investment Advisor | $74,990 | — | $74,990 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- ALERUS FINANCIAL, N.A. — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $74,990
- Estimated Expense Ratio: 0.323% 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 | $74,982 | $60,768 | — | — | — |
| 2023 | $76,929 | — | $18,309 | — | — |
| 2022 | $67,206 | $57,058 | $10,148 | — | — |