Plan Snapshot
- Plan Sponsor: Hirsch Electric, LLC.
- Sponsor EIN: 522322452
- Sponsor Address: 603 DUNDALK AVE., BALTIMORE, MD, 212242932
- Plan Type: 401(k)
- Total Participants: 120
- Total Assets: $8.8M
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 | 120 | $8.8M | $272,502 | $460,400 |
| 2023 | 125 | $7.3M | $519,761 | $480,916 |
| 2022 | 118 | $5.4M | $249,879 | $451,249 |
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 | Recordkeeper | $19,850 | — | $19,850 |
| MERRILL LYNCH PIERCE FENNER & SMITH | Other Service Provider | $14,012 | $13 | $14,025 |
| FOUNDERS FINANCIAL SEC LLC | Investment Advisor | $9,119 | $4 | $9,123 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $42,998
- Estimated Expense Ratio: 0.487% 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 | $44,011 | — | $44,011 | — | — |
| 2023 | $40,842 | — | $40,842 | — | — |
| 2022 | $37,257 | — | — | — | $37,257 |