Plan Snapshot
- Plan Sponsor: Canfield Scientific, INC.
- Sponsor EIN: 222938062
- Sponsor Address: 4 WOOD HOLLOW ROAD, PARSIPPANY, NJ, 07054
- Plan Type: 401(k)
- Total Participants: 272
- Total Assets: $46.2M
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 | 272 | $46.2M | $966,408 | $2.3M |
| 2023 | 281 | $38.2M | $892,416 | $1.9M |
| 2022 | 251 | $30.5M | $765,582 | $1.6M |
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 | $65,055 | — | $65,055 |
| PKS FINANCIAL SERVICES INC | Other Service Provider | — | $40,106 | $40,106 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $105,161
- Estimated Expense Ratio: 0.228% 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 | $65,055 | — | — | — | — |
| 2023 | $79,673 | — | $16,869 | — | — |
| 2022 | $151,609 | — | $151,609 | — | — |