Plan Snapshot
- Plan Sponsor: Habberstad Motorsport, INC.
- Sponsor EIN: 112529490
- Sponsor Address: 945 EAST JERICHO TURNPIKE, HUNTINGTON STATION, NY, 11746
- Plan Type: 401(k)
- Total Participants: 195
- Total Assets: $11.9M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 195 | $11.9M | $0 | $1.2M |
| 2023 | 188 | $10.7M | $0 | $1.2M |
| 2022 | 172 | $9.1M | $0 | $953,270 |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $72,296 | — | $72,296 |
| HORNOR TOWNSHEND & KENT | OTHER SERVICES | — | $26,749 | $26,749 |
| ORENDA RETIREMENT, LLC | OTHER SERVICES | $8,621 | $5,358 | $13,979 |
| HABBERSTAD MOTORSPORT INC. | OTHER SERVICES | — | $7,500 | $7,500 |
| SATTY LEVINE AND CIACCO CPA | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $120,524
- Estimated Expense Ratio: 1.017% 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 | $80,917 | — | $80,917 | — | — |
| 2023 | $75,188 | — | $75,188 | — | — |
| 2022 | $60,530 | — | $60,530 | — | — |