Plan Snapshot
- Plan Sponsor: University Bancorp, INC.
- Sponsor EIN: 382929531
- Sponsor Address: 2015 WASHTENAW AVE., ANN ARBOR, MI, 48104
- Plan Type: 401(k)
- Total Participants: 494
- Total Assets: $35.9M
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 | 494 | $35.9M | $1.7M | $2.6M |
| 2023 | 456 | $30.0M | $1.6M | $2.4M |
| 2022 | 484 | $25.3M | $1.4M | $2.6M |
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 |
|---|---|---|---|---|
| BLACK DIAMOND FINANCIAL, LLC | NONE | $22,594 | — | $22,594 |
| EMPOWER ANNUITY INSURANCE COMPANY | NONE | $17,105 | — | $17,105 |
| WATKINS ROSS | NONE | $14,437 | — | $14,437 |
| LADENBURG THALMAN ASSET MANAGEMENT | NONE | $5,648 | — | $5,648 |
| MANER COSTERISAN, P.C. | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- MANER COSTERISAN, P.C. — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $59,784
- Estimated Expense Ratio: 0.166% 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 | $159,031 | $76,720 | $14,437 | — | — |
| 2023 | $186,417 | $76,280 | — | — | — |
| 2022 | $134,183 | — | — | — | $134,183 |