Plan Snapshot
- Plan Sponsor: Altek Electronics, INC.
- Sponsor EIN: 200519095
- Sponsor Address: 89 COMMERCIAL BLVD, TORRINGTON, CT, 06790
- Plan Type: 401(k)
- Total Participants: 162
- Total Assets: $9.5M
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 | 162 | $9.5M | $307,447 | $570,437 |
| 2023 | 139 | $9.0M | $254,080 | $502,735 |
| 2022 | 142 | $7.3M | $238,722 | $477,616 |
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 |
|---|---|---|---|---|
| THE PATRIOT FINANCIAL GROUP INSURAN | Investment Advisor | $19,298 | — | $19,298 |
| EMPOWER ANNUITY INSURANCE COMPANY | Recordkeeper | $9,813 | — | $9,813 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $29,111
- Estimated Expense Ratio: 0.306% 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 | $30,550 | $20,737 | — | — | — |
| 2023 | $37,709 | $31,550 | — | — | — |
| 2022 | $17,679 | $14,778 | $2,901 | — | — |