Plan Snapshot
- Plan Sponsor: Banner Engineering Corp
- Sponsor EIN: 410907221
- Sponsor Address: 9714 10TH AVE N, PLYMOUTH, MN, 554415019
- Plan Type: 401(k)
- Total Participants: 1,005
- Total Assets: $191.6M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 1,005 | $191.6M | $3.9M | $7.2M |
| 2023 | 997 | $176.3M | $4.1M | $7.6M |
| 2022 | 1,468 | $156.9M | $3.8M | $7.1M |
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 |
|---|---|---|---|---|
| VANGUARD GROUP INC. | Other Service Provider | $118,357 | — | $118,357 |
| VANGUARD ADVISORS INC. | Other Service Provider | $58,518 | — | $58,518 |
| USI ADVISORS, INC. | Other Service Provider | $45,000 | — | $45,000 |
| BERGAN KDV | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- VANGUARD ADVISORS INC. — Other Service Provider
- BERGAN KDV — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $221,875
- Estimated Expense Ratio: 0.116% 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 | $222,329 | $222,329 | — | — | — |
| 2023 | $234,637 | $234,637 | — | — | — |
| 2022 | $237,452 | $237,452 | — | — | — |