Plan Snapshot
- Plan Sponsor: Bergen Shippers Corp. Dba Bergen Logistics
- Sponsor EIN: 800556716
- Sponsor Address: 5903 WESTSIDE AVENUE, NORTH BERGEN, NJ, 07047
- Plan Type: 401(k)
- Total Participants: 739
- Total Assets: $3.7M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- 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 | 739 | $3.7M | $286,117 | $527,827 |
| 2023 | 775 | $3.2M | $346,226 | $509,603 |
| 2022 | 646 | $1.2M | $180,317 | $316,763 |
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 |
|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE COMPANY | Recordkeeper | $24,020 | — | $24,020 |
| NFP RETIREMENT INC. | Investment Advisor | $11,321 | — | $11,321 |
| ROBIN S. WEINGAST & ASSOCIATES, INC | Other Service Provider | $7,150 | $3,102 | $10,252 |
| EMPOWER ADVISORY GROUP, LLC | Investment Advisor | $5,179 | — | $5,179 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $50,772
- Estimated Expense Ratio: 1.382% 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 | $42,169 | $42,169 | — | — | — |
| 2023 | $20,636 | $20,636 | — | — | — |
| 2022 | $15,151 | $15,151 | — | — | — |