# Banner Engineering Corp 401(k) Plan
Source: https://planprovider.pro/companies/banner-engineering-corp-401k-plan

> Banner Engineering Corp's 401(k) plan: 1,005 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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.](https://planprovider.pro/provider/the-vanguard-group-inc) — Other Service Provider

- [BERGAN KDV](https://planprovider.pro/provider/bergankdv-ltd) — 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|—|—|—|

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