Plan Snapshot
- Plan Sponsor: Hermes Abrasives, Ltd.
- Sponsor EIN: 541121825
- Sponsor Address: 524 VIKING DRIVE, VIRGINIA BEACH, VA, 23452
- Plan Type: 401(k)
- Total Participants: 103
- Total Assets: $12.7M
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 | 103 | $12.7M | $219,827 | $479,157 |
| 2023 | 100 | $13.1M | $226,173 | $489,212 |
| 2022 | 98 | $12.9M | $250,041 | $527,946 |
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 |
|---|---|---|---|---|
| FORVIS MAZARS LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FORVIS MAZARS LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 | $7,909 | $6,203 | — | — | — |
| 2023 | $9,730 | $8,080 | — | — | — |
| 2022 | $9,326 | $7,326 | — | — | — |