Plan Snapshot
- Plan Sponsor: Ifab Corp
- Sponsor EIN: 923450674
- Sponsor Address: 2408 FORBES ROAD, GASTONIA, NC, 28052
- Plan Type: 401(k)
- Total Participants: 404
- Total Assets: $2.2M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 404 | $2.2M | $0 | $446,649 |
| 2023 | 366 | $2.3M | $0 | $442,474 |
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 |
|---|---|---|---|---|
| MAXUS PLAN SOLUTIONS, INC | Recordkeeper | $30,979 | $1,088 | $32,067 |
| CETERA ADVISOR NETWORKS LLC | Investment Advisor | $8,160 | — | $8,160 |
| EMPOWER ANNUITY INS. CO OF AMERICA | Recordkeeper | $8,077 | — | $8,077 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $48,304
- Estimated Expense Ratio: 2.177% 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 | $39,077 | — | $38,833 | — | — |
| 2023 | $16,757 | $16,757 | — | — | — |