Plan Snapshot
- Plan Sponsor: Gorman Bros., INC.
- Sponsor EIN: 140704840
- Sponsor Address: 200 CHURCH STREET, ALBANY, NY, 12202
- Plan Type: 401(k)
- Total Participants: 0
- Total Assets: $0
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 | 0 | $0 | $0 | $85,624 |
| 2023 | 219 | $32.3M | $1.5M | $778,098 |
| 2022 | 232 | $29.6M | $1.4M | $757,460 |
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 |
|---|---|---|---|---|
| DIRECT ADVISORS, LLC | NONE | $153,668 | — | $153,668 |
| CHEMUNG CANAL TRUST COMPANY | NONE | $89,886 | — | $89,886 |
| BROWN & FITZGERALD, P.C. | NONE | $22,000 | — | $22,000 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $265,554
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 | $108,528 | $46,095 | $11,567 | $24,700 | — |
| 2023 | $132,777 | $76,834 | $10,960 | $11,000 | — |
| 2022 | $146,669 | $80,064 | — | — | $66,605 |