Plan Snapshot
- Plan Sponsor: Global Aerospace, INC.
- Sponsor EIN: 826791841
- Sponsor Address: 115 TABOR ROAD, STE. 3A, MORRIS PLAINS, NJ, 07950
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 46
- Total Assets: $2.0M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 46 | $2.0M | $48,574 | $49,464 |
| 2023 | 48 | $2.6M | $446,539 | $52,743 |
| 2022 | 50 | $2.6M | $34,165 | $62,972 |
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 |
|---|---|---|---|---|
| FOVIS MAZARS, LLP | Other Service Provider | $38,480 | — | $38,480 |
| AETNA LIFE INSURANCE | Other Service Provider | $15,485 | — | $15,485 |
| OPTUM HEALTH FINANCIAL SERVICES | Other Service Provider | $5,415 | — | $5,415 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $59,380
- Estimated Expense Ratio: 3.041% 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 | $74,315 | — | $20,900 | $38,480 | — |
| 2023 | $79,535 | — | $24,977 | $37,440 | — |
| 2022 | $78,591 | — | — | — | $38,381 |