Plan Snapshot
- Plan Sponsor: Ferrari North America, INC.
- Sponsor EIN: 223502942
- Sponsor Address: 250 SYLVAN AVE, ENGLEWOOD CLIFFS, NJ, 07632
- Plan Type: 401(k)
- Total Participants: 175
- Total Assets: $25.8M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: Yes
- 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 | 175 | $25.8M | $922,069 | $1.4M |
| 2023 | 151 | $23.4M | $810,819 | $1.2M |
| 2022 | 133 | $18.9M | $664,462 | $817,973 |
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 |
|---|---|---|---|---|
| STRATEGIC ADVISORS, INC. | ADVISOR | $12,642 | — | $12,642 |
| FIDELITY INVESTMENTS INSTITUTIONAL | RECORDKEEPER | $8,900 | — | $8,900 |
| WITHUM SMITH AND BROWN, PC | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- STRATEGIC ADVISORS, INC. — ADVISOR
- FIDELITY INVESTMENTS INSTITUTIONAL — RECORDKEEPER
- WITHUM SMITH AND BROWN, PC — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $21,542
- Estimated Expense Ratio: 0.084% 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 | $21,542 | $12,642 | — | — | — |
| 2023 | $17,677 | $9,277 | — | — | — |
| 2022 | $11,840 | $5,224 | — | — | — |