Plan Snapshot
- Plan Sponsor: Florence Electric, LLC
- Sponsor EIN: 201831202
- Sponsor Address: 290 PINE STREET, CANTON, MA, 02021
- Plan Type: 401(k)
- Total Participants: 171
- Total Assets: $15.9M
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 | 171 | $15.9M | $343,267 | $921,078 |
| 2023 | 190 | $15.0M | $310,870 | $876,690 |
| 2022 | 172 | $11.8M | $316,214 | $796,352 |
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 |
|---|---|---|---|---|
| CBIZ CPAS PC | Auditor | — | — | $0 |
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 | $71,623 | $3,052 | — | — | — |
| 2023 | $63,861 | $988 | — | — | — |
| 2022 | $62,407 | $2,414 | $58,643 | — | — |