Plan Snapshot
- Plan Sponsor: Trustees Electrical Workers Local 242 401(K) Plan
- Sponsor EIN: 411972744
- Sponsor Address: 2002 LONDON ROAD, ROOM 300, DULUTH, MN, 558122152
- Plan Type: DC
- Total Participants: 520
- Total Assets: $28.0M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 520 | $28.0M | $0 | $1.8M |
| 2023 | 512 | $23.7M | $0 | $1.8M |
| 2022 | 479 | $19.6M | $0 | $1.9M |
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 |
|---|---|---|---|---|
| MILLIMAN, INC. | NONE | $31,678 | — | $31,678 |
| MATRIX TRUST COMPANY | NONE | $8,436 | — | $8,436 |
| SAGEVIEW ADVISORY GROUP | NONE | $7,479 | — | $7,479 |
| WILSON-MCSHANE CORPORATION | NONE | $6,600 | — | $6,600 |
| LEGACY PROFESSIONALS LLP | NONE | $6,000 | — | $6,000 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- MILLIMAN, INC. — NONE
- MATRIX TRUST COMPANY — NONE
- SAGEVIEW ADVISORY GROUP — NONE
- LEGACY PROFESSIONALS LLP — NONE
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $60,193
- Estimated Expense Ratio: 0.215% 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 | $66,712 | $7,479 | $6,600 | $6,000 | — |
| 2023 | $56,513 | $7,106 | $6,600 | $5,000 | — |
| 2022 | $58,139 | $14,162 | $27,714 | — | $12,301 |