Plan Snapshot
- Plan Sponsor: Herson'S, INC
- Sponsor EIN: 520908995
- Sponsor Address: 15525 FREDERICK RD, ROCKVILLE, MD, 208552110
- Plan Type: 401(k)
- Total Participants: 154
- Total Assets: $15.0M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- 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 | 154 | $15.0M | $144,051 | $752,218 |
| 2023 | 153 | $13.5M | $165,033 | $699,100 |
| 2022 | 149 | $11.5M | $162,032 | $624,241 |
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 | $32,087 | — | $32,087 |
| MERRILL LYNCH PIERCE FENNER & SMITH | CONSULTANT | $27,590 | $23 | $27,613 |
| ORENDA RETIREMENT LLC | CONTRACT ADMINISTRATOR | — | $6,661 | $6,661 |
| UHY LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- UHY LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $66,361
- Estimated Expense Ratio: 0.443% 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 | $59,690 | $9,661 | $32,088 | — | — |
| 2023 | $54,687 | $8,187 | $31,295 | — | — |
| 2022 | $55,722 | $7,865 | $33,251 | — | $14,606 |