Plan Snapshot
- Plan Sponsor: Galaxy Systems, INC.
- Sponsor EIN: 133583090
- Sponsor Address: 5 HILLTOP RD, MENDHAM, NJ, 079451263
- Plan Type: 401(k)
- Total Participants: 498
- Total Assets: $31.6M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- 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 | 498 | $31.6M | $0 | $3.6M |
| 2023 | 524 | $28.8M | $0 | $3.6M |
| 2022 | 646 | $25.5M | $0 | $3.9M |
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 | $129,037 | — | $129,037 |
| CLIFTONLARSONALLEN LLP | ACCOUNTANT | $11,647 | — | $11,647 |
| S B H U LIFE AGENCY INC | OTHER SERVICES | — | $8,440 | $8,440 |
| CLIFTONLARSENALLEN LLP | ACCOUNTANT | $8,045 | — | $8,045 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- CLIFTONLARSONALLEN LLP — ACCOUNTANT
- S B H U LIFE AGENCY INC — OTHER SERVICES
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $157,169
- Estimated Expense Ratio: 0.497% 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 | $148,711 | $3,724 | $129,037 | $15,950 | — |
| 2023 | $130,349 | — | $116,387 | $13,962 | — |
| 2022 | $127,789 | — | $112,621 | — | $15,168 |