Plan Snapshot
- Plan Sponsor: Convergence Networks, INC.
- Sponsor EIN: 931304921
- Sponsor Address: 4252 SE INTERNATIONAL WAY, MILWAUKIE, OR, 97222
- Plan Type: 401(k)
- Plan Number: 001
- Total Participants: 191
- Total Assets: $10.5M
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. |
|---|---|---|---|---|
| 2025 | 191 | $10.5M | $0 | $0 |
| 2024 | 114 | $8.4M | $382,709 | $695,276 |
| 2023 | 134 | $7.3M | $309,338 | $523,324 |
| 2022 | 91 | $5.3M | $159,602 | $331,882 |
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 |
|---|---|---|---|---|
| MORGAN STANLEY GLOBAL | Other Service Provider | $22,543 | — | $22,543 |
| THE VANGUARD GROUP, INC. | Other Service Provider | $19,839 | — | $19,839 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $42,382
- Estimated Expense Ratio: 0.405% 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 | $673,561 | $22,543 | $19,839 | — | — |
| 2024 | $37,644 | $19,020 | $18,624 | — | — |
| 2023 | $1,927,973 | — | — | — | — |
| 2022 | $519,240 | — | — | — | — |