Plan Snapshot
- Plan Sponsor: Egan Company
- Sponsor EIN: 411570195
- Sponsor Address: 11611 BUSINESS PARK BLVD N 11611 BU, CHAMPLIN, MN, 55316
- Plan Type: 401(k)
- Total Participants: 278
- Total Assets: $71.0M
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: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 278 | $71.0M | $4.3M | $2.9M |
| 2023 | 254 | $60.4M | $3.8M | $2.6M |
| 2022 | 243 | $55.6M | $3.4M | $2.4M |
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 |
|---|---|---|---|---|
| NFP RETIREMENT INC | Investment Advisor | $50,501 | — | $50,501 |
| EMPOWER ANNUITY INSURANCE COMPANY O | Recordkeeper | $19,771 | — | $19,771 |
| EMPOWER ADVISORY GROUP, LLC | Investment Advisor | $8,891 | — | $8,891 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $79,163
- Estimated Expense Ratio: 0.111% 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 | $84,103 | $59,393 | — | — | — |
| 2023 | $82,018 | $48,986 | — | — | — |
| 2022 | $137,711 | $49,185 | — | — | $88,526 |