Plan Snapshot
- Plan Sponsor: Builders Exchange Of The Southern Tier, INC.
- Sponsor EIN: 160810649
- Sponsor Address: 65 E MAIN STREET, FALCONER, NY, 147331336
- Plan Type: 401(k)
- Total Participants: 136
- Total Assets: $12.4M
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 | 136 | $12.4M | $255,754 | $407,468 |
| 2023 | 134 | $11.7M | $240,060 | $416,768 |
| 2022 | 133 | $10.3M | $225,725 | $386,516 |
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 |
|---|---|---|---|---|
| TRANSAMERICA FINANCIAL LIFE INSURAN | Recordkeeper | $87,669 | — | $87,669 |
| NOVEM GROUP | Investment Advisor | $18,883 | — | $18,883 |
| TRONCONI SEGARRA & ASSOCIATES | Auditor | $17,550 | — | $17,550 |
| PINNACLE FINANCIAL SERVICES, INC | Recordkeeper | $8,014 | — | $8,014 |
| BUILDERS EXCHANGE OF SOUTHERN TIER | Other Service Provider | $6,185 | — | $6,185 |
| 3(16) FIDUCIARY SERVICES CORPORATIO | Recordkeeper | $5,722 | — | $5,722 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- TRANSAMERICA FINANCIAL LIFE INSURAN — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $144,023
- Estimated Expense Ratio: 1.157% 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 | $146,652 | $95,243 | — | — | — |
| 2023 | $132,130 | $103,303 | $6,144 | $8,300 | — |
| 2022 | $74,064 | $41,504 | $3,000 | — | $18,623 |