Plan Snapshot
- Plan Sponsor: Hoffer Plastics Corporation
- Sponsor EIN: 362347537
- Sponsor Address: 500 NORTH COLLINS STREET, SOUTH ELGIN, IL, 60177
- Plan Type: 401(k)
- Total Participants: 292
- Total Assets: $62.2M
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 | 292 | $62.2M | $1.3M | $1.7M |
| 2023 | 313 | $59.8M | $593,940 | $1.6M |
| 2022 | 324 | $52.0M | $1.2M | $1.6M |
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 |
|---|---|---|---|---|
| OSAIC WEALTH INC | Investment Advisor | $83,880 | — | $83,880 |
| WOODBURY FINANCIAL SERVICES INC | Other Service Provider | $26,508 | — | $26,508 |
| EMPOWER ANNUITY INSURANCE COMPANY O | Recordkeeper | $7,436 | — | $7,436 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $117,824
- Estimated Expense Ratio: 0.189% 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 | $117,824 | $83,880 | — | — | — |
| 2023 | $98,941 | $96,672 | — | — | — |
| 2022 | $143,543 | $100,347 | $43,196 | — | — |