Plan Snapshot
- Plan Sponsor: Commonwealth Financial Network
- Sponsor EIN: 042675571
- Sponsor Address: 29 SAWYER RD., WALTHAM, MA, 02453
- Plan Type: 401(k)
- Total Participants: 1,271
- Total Assets: $238.3M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: Yes
- 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 | 1,271 | $238.3M | $6.2M | $15.5M |
| 2023 | 1,207 | $195.6M | $5.8M | $14.3M |
| 2022 | 1,098 | $145.3M | $4.5M | $11.3M |
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 |
|---|---|---|---|---|
| STRATEGIC ADVISORS, INC. | ADVISOR | $34,489 | — | $34,489 |
| RSM US LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- STRATEGIC ADVISORS, INC. — ADVISOR
- RSM US LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $34,489
- Estimated Expense Ratio: 0.014% 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 | -$14,238 | $34,489 | — | — | — |
| 2023 | $3,262 | $20,085 | — | — | — |
| 2022 | $10,220 | $13,260 | — | — | — |