Plan Snapshot
- Plan Sponsor: Farouk Systems INC.
- Sponsor EIN: 760206566
- Sponsor Address: 250 PENNBRIGHT DR, HOUSTON, TX, 77090
- Plan Type: 401(k)
- Total Participants: 769
- Total Assets: $15.4M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- 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 | 769 | $15.4M | $501,656 | $864,380 |
| 2023 | 604 | $13.6M | $458,461 | $800,804 |
| 2022 | 573 | $11.4M | $492,233 | $801,425 |
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 |
|---|---|---|---|---|
| RYAN&MANN LLC | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- RYAN&MANN LLC — 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 | $45,905 | $39,055 | — | — | — |
| 2023 | $40,617 | $32,825 | — | — | — |
| 2022 | $38,862 | — | — | — | — |