Plan Snapshot
- Plan Sponsor: Galactic, INC.
- Sponsor EIN: 630974457
- Sponsor Address: 400 VESTAVIA PKWY, VESTAVIA, AL, 35216
- Plan Type: 401(k)
- Total Participants: 904
- Total Assets: $32.1M
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 | 904 | $32.1M | $1.3M | $2.8M |
| 2023 | 678 | $23.7M | $1.1M | $2.5M |
| 2022 | 361 | $13.7M | $687,041 | $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 |
|---|---|---|---|---|
| BORLAND BENEFIELD, P.C. | 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 | $244,653 | — | $244,653 | — | — |
| 2023 | $173,217 | — | $173,217 | — | — |
| 2022 | $137,849 | — | — | — | $137,849 |