Plan Snapshot
- Plan Sponsor: The Service Professor LLC
- Sponsor EIN: 382327874
- Sponsor Address: 4770 50TH ST SE, GRAND RAPIDS, MI, 495125402
- Plan Type: 401(k)
- Plan Number: 001
- Total Participants: 178
- Total Assets: $3.7M
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. |
|---|---|---|---|---|
| 2023 | 178 | $3.7M | $306,852 | $665,266 |
| 2022 | 164 | $3.3M | $332,988 | $626,049 |
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 |
|---|---|---|---|---|
| PAYCHEX, INC. | Recordkeeper | $49,387 | — | $49,387 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- PAYCHEX, INC. — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $49,387
- Estimated Expense Ratio: 1.330% 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 |
|---|---|---|---|---|---|
| 2023 | $11,109 | — | $11,109 | — | — |
| 2022 | $2,700 | — | $2,250 | — | $450 |