Plan Snapshot
- Plan Sponsor: Audiology Benefits Services, LLC
- Sponsor EIN: 222580521
- Sponsor Address: 580 HOWARD AVENUE, SOMERSET, NJ, 08873
- Plan Type: 401(k)
- Total Participants: 0
- Total Assets: $0
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- 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 | 0 | $0 | $570,843 | $2.0M |
| 2023 | 330 | $18.8M | $515,511 | $1.8M |
| 2022 | 258 | $17.7M | $475,756 | $1.5M |
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 |
|---|---|---|---|---|
| WELLS FARGO ADVISORS | INVESTMENT ADVISORY | $80,000 | — | $80,000 |
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $76,768 | — | $76,768 |
| COHNREZNICK LLP | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $156,768
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 | $72,653 | $29,996 | $42,657 | — | — |
| 2023 | $76,824 | $38,416 | $38,408 | — | — |
| 2022 | $60,945 | $39,994 | $20,951 | — | — |