Plan Snapshot
- Plan Sponsor: Hanover Engineering Associates, INC.
- Sponsor EIN: 231724466
- Sponsor Address: 252 BRODHEAD ROAD, BETHLEHEM, PA, 180178944
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 56
- Total Assets: $10,293
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. |
|---|---|---|---|---|
| 2025 | 56 | $10,293 | $0 | $0 |
| 2024 | 55 | $3,786 | $479,045 | $356,546 |
| 2023 | 40 | $15,050 | $419,443 | $325,673 |
| 2022 | 52 | $164,360 | $377,561 | $319,104 |
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 |
|---|---|---|---|---|
| THE BENECON GROUP, LLC | Investment Advisor | $45,299 | — | $45,299 |
| BSI CORPORATE BENEFITS, LLC | Investment Advisor | $25,126 | — | $25,126 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $70,425
- Estimated Expense Ratio: 684.203% 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 |
|---|---|---|---|---|---|
| 2025 | $971,485 | — | — | — | — |
| 2024 | $880,818 | — | — | — | — |
| 2023 | $896,329 | — | — | — | — |
| 2022 | $553,255 | — | — | — | — |