Plan Snapshot
- Plan Sponsor: Clarity Benefit Solutions
- Sponsor EIN: 223205534
- Sponsor Address: 77 BRANT AVE #206, CLARK, NJ, 07066
- Plan Type: 401(k)
- Plan Number: 001
- Total Participants: 81
- Total Assets: $3.6M
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. |
|---|---|---|---|---|
| 2025 | 81 | $3.6M | $0 | $0 |
| 2024 | 109 | $4.1M | $11,796 | $550,477 |
| 2023 | 128 | $2.9M | $35,985 | $567,465 |
| 2022 | 101 | $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 | $35,768 | — | $35,768 |
| M HOLDINGS SECURITIES | Investment Advisor | — | $15,880 | $15,880 |
| ORENDA RETIREMENTM LLC | Recordkeeper | $6,625 | $3,251 | $9,876 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $61,524
- Estimated Expense Ratio: 1.721% 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 |
|---|---|---|---|---|---|
| 2025 | $1,354,947 | — | $42,394 | — | — |
| 2024 | $39,381 | — | $39,381 | — | — |
| 2023 | $570,846 | — | — | — | — |
| 2022 | $221,156 | — | — | — | — |