Plan Snapshot
- Plan Sponsor: Famous Enterprises, INC.
- Sponsor EIN: 341726677
- Sponsor Address: 2620 RIDGEWOOD ROAD, AKRON, OH, 44313
- Plan Type: 401(k)
- Total Participants: 948
- Total Assets: $44.3M
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 | 948 | $44.3M | $765,127 | $2.8M |
| 2023 | 1,121 | $44.6M | $928,776 | $3.1M |
| 2022 | 1,001 | $38.9M | $487,186 | $2.8M |
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 |
|---|---|---|---|---|
| NEWPORT GROUP, INC. | RECORKDEEPER | $135,814 | — | $135,814 |
| ANCORA RETIREMENT PLAN ADVISORS,INC | ADVISOR | $106,286 | — | $106,286 |
| COHEN & COMPANY, LTD | Auditor | $106,286 | — | $106,286 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $348,386
- Estimated Expense Ratio: 0.787% 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 | $242,100 | — | $45,408 | $106,286 | — |
| 2023 | $223,255 | $99,307 | $88,328 | — | — |
| 2022 | $224,301 | $102,119 | $122,182 | — | — |