Education Loan Finance, Inc 401(K) Plan — Form 5500 plan (Education Loan Finance, Inc.)
Plain-English plan summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, Education Loan Finance, Inc 401(K) Plan is a benefit plan reported by Education Loan Finance, Inc. under EIN 62-1586836 and plan number 003. The latest loaded filing year is 2023. The filing reports 304 participants and $19,648,315 in end-of-year plan assets, where available in the loaded dataset.
Form 5500 plan profile · 2023
Key reported metrics
Net assets (EOY)$19.6MPlan net assets, end of year$19,648,315
Participants304Covered participants reported
Assets / participant$64.6KComputed: assets ÷ participants$64,633 (computed)
Provider compensation$16.8K1 Schedule C provider row(s)$16,838
- Plan sponsor
- Education Loan Finance, Inc.
- EIN
- 62-1586836
- Plan number
- 003
- Plan type
- 2
- Location
- Knoxville, TN
- Latest filing year
- 2023
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 304 | H, C | 20241010153849NAL0020449009001 |
Schedule H · 2023
Reported financial statement
Reported figures as filed, in whole dollars. Only fields the filing reports are shown; others are marked not reported.
Reported balance (end of year)$19.6M total assets
Net assets$19.6MLiabilities$0
Full reported line items
Net assets
- Total assets (EOY)
- $19,648,315
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $19,648,315
- Net assets (BOY)
- $16,723,570
Income & contributions
- Employer contributions
- $97,979
- Participant contributions
- $1,929,270
- Total contributions
- $2,095,166
- Total income / additions
- $4,342,173
Expenses & distributions
- Benefits paid
- $1,407,325
- Administrative expenses
- $10,103
- Total expenses
- $1,417,428
- Net increase / (decrease)
- $2,924,745
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Unified Trust Company | RECORDKEEPER | $8,504 | $8,334 | 2023 |