Plan Snapshot
- Plan Sponsor: Covert Buick, INC.
- Sponsor EIN: 741982741
- Sponsor Address: 11750 RESEARCH BLVD, AUSTIN, TX, 787592446
- Plan Type: 401(k)
- Total Participants: 1,114
- Total Assets: $39.0M
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: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 1,114 | $39.0M | $0 | $5.5M |
| 2023 | 1,110 | $33.1M | $0 | $5.3M |
| 2022 | 964 | $26.3M | $0 | $4.7M |
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 | CONTRACT ADMINISTRATOR | $201,884 | — | $201,884 |
| WELLS FARGO ADVISORS INS AGENCY LLC | OTHER SERVICES | — | $47,341 | $47,341 |
| PEGGY S. EDGE CPA, LLC | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $249,225
- Estimated Expense Ratio: 0.639% 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 | $201,885 | — | $201,885 | — | — |
| 2023 | $101,504 | — | $101,504 | — | — |
| 2022 | $37,302 | — | $37,302 | — | — |