Plan Snapshot
- Plan Sponsor: Borgman Ford Sales, INC.
- Sponsor EIN: 381643187
- Sponsor Address: 3150 28TH ST SW, GRANDVILLE, MI, 494181111
- Plan Type: 401(k)
- Total Participants: 130
- Total Assets: $10.1M
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 | 130 | $10.1M | $0 | $0 |
| 2023 | 123 | $8.7M | $0 | $0 |
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 |
|---|---|---|---|---|
| PRANGLEY MARKS, LLP | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 | $33,963 | — | $33,963 | — | — |
| 2023 | $2,643 | — | $2,643 | — | — |