Plan Snapshot
- Plan Sponsor: Corvac Composites, LLC
- Sponsor EIN: 202485456
- Sponsor Address: 4300 36TH ST SE, KENTWOOD, MI, 49512
- Plan Type: 401(k)
- Total Participants: 108
- Total Assets: $2.3M
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 | 108 | $2.3M | $100,798 | $130,809 |
| 2023 | 125 | $2.0M | $35,802 | $90,897 |
| 2022 | 126 | $1.7M | $29,205 | $84,757 |
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 |
|---|---|---|---|---|
| MONROE, SWEERIS & TROMP PLC | Auditor | $8,500 | — | $8,500 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $8,500
- Estimated Expense Ratio: 0.365% 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 | $17,958 | $1,501 | $7,957 | $8,500 | — |
| 2023 | $17,177 | $1,500 | $6,908 | $7,500 | — |
| 2022 | $25,333 | $3,745 | $7,530 | — | $14,058 |