# Electric Motor & Contracting Co., INC. 401(k) Plan
Source: https://planprovider.pro/companies/electric-motor-contracting-co-inc-401k-plan

> Electric Motor & Contracting Co., INC.'s 401(k) plan: 250 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Electric Motor & Contracting Co., INC.

- **Sponsor EIN:** 540694632

- **Sponsor Address:** 3703 COOK BLVD, CHESAPEAKE, VA, 23323

- **Plan Type:** 401(k)

- **Total Participants:** 250

- **Total Assets:** $31.4M

## 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|250|$31.4M|$471,065|$1.4M|

| 2023|243|$27.2M|$543,091|$1.2M|

| 2022|219|$22.2M|$502,186|$1.2M|

## 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|

| CHARLES W. SNADAR, PC|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [CHARLES W. SNADAR, PC](https://planprovider.pro/provider/charles-schwab-and-co-inc) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $0

### 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|$38,730|$17,215|—|—|—|

| 2023|$28,919|$14,377|—|—|—|

| 2022|$14,023|$14,023|—|—|—|

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