Plan Snapshot
- Plan Sponsor: Clarity Benefit Solutions
- Sponsor EIN: 223205534
- Sponsor Address: 77 BRANT AVE #206, CLARK, NJ, 07066
- Plan Type: 401(k)
- Total Participants: 109
- Total Assets: $4.1M
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 | 109 | $4.1M | $11,796 | $550,477 |
| 2023 | 133 | $2.9M | $35,985 | $567,465 |
| 2022 | 110 | $2.2M | $33,856 | $339,269 |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | Recordkeeper | $35,105 | — | $35,105 |
| M HOLDINGS SECURITIES | Investment Advisor | — | $15,309 | $15,309 |
| ORENDA RETIREMENTM LLC | Recordkeeper | $4,280 | $2,922 | $7,202 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $57,616
- Estimated Expense Ratio: 1.422% 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 | $39,381 | — | $39,381 | — | — |
| 2023 | — | — | — | — | — |
| 2022 | — | — | — | — | — |