# Innovation Associates, INC. 401(k) Plan
Source: https://planprovider.pro/companies/innovation-associates-401k-plan

> Innovation Associates, INC.'s 401(k) plan: 530 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Innovation Associates, INC.

- **Sponsor EIN:** 161240697

- **Sponsor Address:** 30 CHARLES STREET, BINGHAMTON, NY, 13905

- **Plan Type:** 401(k)

- **Total Participants:** 530

- **Total Assets:** $27.3M

## 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|530|$27.3M|$1.1M|$3.7M|

| 2023|590|$21.0M|$1.2M|$3.6M|

| 2022|571|$13.8M|$888,067|$2.9M|

## 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|

| RESOURCES INVESTMENT ADVISORS, LLC|NONE|$36,000|—|$36,000|

| CHARLES SCHWAB TRUST BANK|NONE|—|$10,819|$10,819|

| NBT BANK, N.A.|NONE|$10,122|—|$10,122|

| JOHNSON, LAUDER, & SAVIDGE, LLP|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [RESOURCES INVESTMENT ADVISORS, LLC](https://planprovider.pro/provider/epic-retirement-plan-services) — NONE

- [CHARLES SCHWAB TRUST BANK](https://planprovider.pro/provider/charles-schwab-and-co-inc) — NONE

- [NBT BANK, N.A.](https://planprovider.pro/provider/epic-retirement-plan-services) — NONE

- [JOHNSON, LAUDER, & SAVIDGE, LLP](https://planprovider.pro/provider/johnson-lauder-and-savidge-llp) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $56,941

- **Estimated Expense Ratio:** 0.209% 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|$46,122|$36,000|—|—|—|

| 2023|$47,861|$36,000|—|—|—|

| 2022|$61,576|$39,000|—|—|—|

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