# Generate Biomedicines, INC 401(k) Plan
Source: https://planprovider.pro/companies/generate-biomedicines-inc-401k-plan

> Generate Biomedicines, INC's 401(k) plan: 328 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/lpl-financial-llc) — ADVISOR

- [FIDELITY INVESTMENTS INSTITUTIONAL](https://planprovider.pro/provider/fidelity-investments) — 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|—|—|—|—|—|

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