Plan Snapshot
- Plan Sponsor: West Michigan Dermatology
- Sponsor EIN: 382561981
- Sponsor Address: 3434 RIVERTOWN POINT COURT SW, GRANDVILLE, MI, 49418
- Plan Type: 401(k)
- Total Participants: 121
- Total Assets: $13.5M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: Yes
- 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 | 121 | $13.5M | $601,885 | $572,096 |
| 2023 | 111 | $11.5M | $555,509 | $553,031 |
| 2022 | 111 | $10.1M | $528,586 | $484,396 |
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 |
|---|---|---|---|---|
| BLUEWATER ASSET MANAGEMENT | FINANCIAL ADVISOR | $38,567 | — | $38,567 |
| PENSERV PLAN SERVICES, INC. | RECORDKEEPER | $8,445 | — | $8,445 |
| MG TRUST COMPANY, LLC | CUSTODIAL | $5,749 | — | $5,749 |
| HUNGERFORD | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $52,761
- Estimated Expense Ratio: 0.390% 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 | $52,761 | $38,567 | $8,445 | — | — |
| 2023 | $53,566 | $38,831 | $9,459 | — | — |
| 2022 | $43,849 | $35,376 | $8,473 | — | — |