Plan Snapshot
- Plan Sponsor: Banner Engineering Corp
- Sponsor EIN: 410907221
- Sponsor Address: 9714 10TH AVE N, PLYMOUTH, MN, 554415019
- Plan Type: 401(k)
- Plan Number: 002
- Total Participants: 1,468
- Total Assets: $211.5M
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. |
|---|---|---|---|---|
| 2025 | 1,468 | $211.5M | $0 | $0 |
| 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 | $131,590 | — | $131,590 |
| VANGUARD ADVISORS INC | Other Service Provider | $64,353 | — | $64,353 |
| USI ADVISORS, INC | Other Service Provider | $33,750 | — | $33,750 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $229,693
- Estimated Expense Ratio: 0.109% 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 |
|---|---|---|---|---|---|
| 2025 | $22,637,131 | $228,420 | — | — | — |
| 2024 | $222,329 | $222,329 | — | — | — |
| 2023 | $234,637 | $234,637 | — | — | — |
| 2022 | $237,452 | $237,452 | — | — | — |