Plan Snapshot
- Plan Sponsor: Generate Biomedicines, INC
- Sponsor EIN: 831630228
- Sponsor Address: 101 SOUTH STREET, SOMERVILLE, MA, 02143
- Plan Type: 401(k)
- Total Participants: 328
- Total Assets: $16.5M
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 | 328 | $16.5M | $2.3M | $4.7M |
| 2023 | 286 | $8.4M | $881,639 | $3.4M |
| 2022 | 236 | $2.8M | $0 | $1.6M |
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 |
|---|---|---|---|---|
| MMA SECURITIES | ADVISOR | $49,528 | — | $49,528 |
| FIDELITY INVESTMENTS INSTITUTIONAL | RECORDKEEPER | $41,073 | — | $41,073 |
| GRAY, GRAY AND GRAY, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- MMA SECURITIES — ADVISOR
- FIDELITY INVESTMENTS INSTITUTIONAL — RECORDKEEPER
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $90,601
- Estimated Expense Ratio: 0.548% 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 | $90,601 | $49,528 | — | — | — |
| 2023 | $35,942 | $14,366 | — | — | — |
| 2022 | — | — | — | — | — |