Plan Snapshot
- Plan Sponsor: Island Employment Services, LLC
- Sponsor EIN: 271845845
- Sponsor Address: 30 WEST 57TH STREET, NEW YORK, NY, 10019
- Plan Type: 401(k)
- Total Participants: 302
- Total Assets: $120.8M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: Yes
- 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 | 302 | $120.8M | $3.5M | $3.5M |
| 2023 | 310 | $109.0M | $2.6M | $3.4M |
| 2022 | 303 | $93.5M | $3.1M | $3.1M |
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 |
|---|---|---|---|---|
| MERRILL LYNCH, PIERCE, FENNER AND S | RECORDKEEPER | $66,981 | — | $66,981 |
| MARCUM LLP | ACCOUNTANT | $42,640 | — | $42,640 |
| CBIZ CPA'S | Auditor | $42,640 | — | $42,640 |
| USI CONSULTING GROUP | CONSULTANTS | $21,500 | — | $21,500 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $173,761
- Estimated Expense Ratio: 0.144% 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 | $129,889 | $21,500 | — | $42,640 | — |
| 2023 | $153,839 | $63,280 | — | $32,240 | — |
| 2022 | $71,994 | — | — | — | — |