# Fonar Corporation 401(k) Plan
Source: https://planprovider.pro/companies/fonar-corporation-401k-plan

> Fonar Corporation's 401(k) plan: 582 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Fonar Corporation

- **Sponsor EIN:** 112464137

- **Sponsor Address:** 110 MARCUS DRIVE, MELVILLE, NY, 11747

- **Plan Type:** 401(k)

- **Total Participants:** 582

- **Total Assets:** $50.1M

## 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|582|$50.1M|$0|$2.0M|

| 2023|596|$42.5M|$0|$1.8M|

| 2022|548|$36.8M|$36,523|$1.7M|

## 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|

| RED BANK PENSION SERVICES, INC.|SERVICE PROVIDER|$6,500|—|$6,500|

| CLARK, SCHAEFER, HACKETT & CO.|Auditor|—|—|$0|

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $6,500

- **Estimated Expense Ratio:** 0.013% 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|$6,835|—|—|—|—|

| 2023|$5,366|—|—|$5,366|—|

| 2022|$6,436|—|—|—|—|

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