Plan Snapshot
- Plan Sponsor: Byrne Electrical Specialists, INC.
- Sponsor EIN: 381948223
- Sponsor Address: 320 BYRNE INDUSTRIAL DR, ROCKFORD, MI, 493411083
- Plan Type: 401(k)
- Total Participants: 551
- Total Assets: $12.5M
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 | 551 | $12.5M | $148,999 | $893,351 |
| 2023 | 543 | $10.9M | $154,624 | $916,819 |
| 2022 | 586 | $9.3M | $175,385 | $1.1M |
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 |
|---|---|---|---|---|
| THE RETIREMENT PLAN COMPANY | RECORDKEEPER | $40,479 | — | $40,479 |
| LPL FINANCIAL | ADVISOR | $24,184 | — | $24,184 |
| MATRIX | NONE | $5,886 | — | $5,886 |
| BDO USA, P.A. | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- THE RETIREMENT PLAN COMPANY — RECORDKEEPER
- MATRIX — NONE
- BDO USA, P.A. — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $70,549
- Estimated Expense Ratio: 0.562% 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 | $74,780 | $24,184 | $4,231 | — | — |
| 2023 | $83,693 | $21,461 | $22,155 | — | — |
| 2022 | $67,798 | $21,143 | $4,220 | — | $37,560 |