Plan Snapshot
- Plan Sponsor: Coversafe Incorporated
- Sponsor EIN: 462295156
- Sponsor Address: 194 E. MAIN ST, THOMASTON, CT, 06787
- Plan Type: 401(k)
- Total Participants: 116
- Total Assets: $3.9M
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. |
|---|---|---|---|---|
| 2024 | 116 | $3.9M | $441,360 | $701,320 |
| 2023 | 121 | $2.6M | $319,200 | $493,814 |
| 2022 | 78 | $1.5M | $236,488 | $364,853 |
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 |
|---|---|---|---|---|
| HUB INTERNATIONAL | NONE | $15,761 | — | $15,761 |
| NOVAK FRANCELLA | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- NOVAK FRANCELLA — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $15,761
- Estimated Expense Ratio: 0.404% 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 | $20,873 | $15,761 | $2,915 | — | — |
| 2023 | — | — | — | — | — |
| 2022 | — | — | — | — | — |