# Gorman Bros., INC. 401(k) Plan
Source: https://planprovider.pro/companies/gorman-bros-inc-401k-plan

> Gorman Bros., INC.'s 401(k) plan: 0 participants, plan year 2023 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2023.

## 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|

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