# Area Energy & Electric, INC. 401(k) Plan
Source: https://planprovider.pro/companies/area-energy-electric-inc-341403836-003

> Area Energy & Electric, INC.'s 401(k) plan: 352 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Area Energy & Electric, INC.

- **Sponsor EIN:** 341403836

- **Sponsor Address:** 2001 COMMERCE DRIVE, SIDNEY, OH, 45365

- **Plan Type:** 401(k)

- **Plan Number:** 003

- **Total Participants:** 352

- **Total Assets:** $38.6M

## 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|352|$38.6M|$501,019|$2.6M|

| 2023|356|$34.0M|$441,592|$2.4M|

| 2022|350|$28.9M|$417,102|$2.2M|

## 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|

| EVERHART FINANCIAL GROUP INC EVERHA|Investment Advisor|$37,186|—|$37,186|

| FLAGEL, HUBER, FLAGEL, AND CO|Auditor|$12,800|—|$12,800|

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $49,986

- **Estimated Expense Ratio:** 0.130% 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|$51,101|$37,186|—|$12,800|—|

| 2023|$44,259|$31,087|—|$12,000|—|

| 2022|$39,638|$38,448|$1,190|—|—|

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