Plan Snapshot
- Plan Sponsor: Folience, INC.
- Sponsor EIN: 420269570
- Sponsor Address: 305 2ND ST SE, SUITE 501, CEDAR RAPIDS, IA, 524011703
- Plan Type: 401(k)
- Total Participants: 486
- Total Assets: $38.5M
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 | 486 | $38.5M | $0 | $2.2M |
| 2023 | 488 | $36.7M | $0 | $2.0M |
| 2022 | 499 | $32.4M | $0 | $1.9M |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $154,481 | — | $154,481 |
| COMMONWEALTH FINANCIAL NETWORK | INVESTMENT ADVISORY | — | $62,839 | $62,839 |
| FORVIS MAZARS | ACCOUNTANT | — | $10,263 | $10,263 |
| FORVIS MAZARS, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- COMMONWEALTH FINANCIAL NETWORK — INVESTMENT ADVISORY
- FORVIS MAZARS — ACCOUNTANT
- FORVIS MAZARS, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $227,583
- Estimated Expense Ratio: 0.591% 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 | $154,482 | — | $154,482 | — | — |
| 2023 | $139,073 | — | $139,073 | — | — |
| 2022 | $142,052 | — | $142,052 | — | — |