Plan Snapshot
- Plan Sponsor: Island Kinetics, INC. Dba Covalence Laboratories
- Sponsor EIN: 860833270
- Sponsor Address: 460 SOUTH BENSON LANE, STE 3, CHANDLER, AZ, 85224
- Plan Type: 401(k)
- Plan Number: 001
- Total Participants: 163
- Total Assets: $8.6M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: Yes
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 163 | $8.6M | $59,600 | $617,170 |
| 2023 | 153 | $7.8M | $48,929 | $452,229 |
| 2022 | 134 | $6.5M | $50,000 | $470,653 |
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 |
|---|---|---|---|---|
| FISHER ASSET MANAGMENT LLC | Investment Advisor | $40,092 | — | $40,092 |
| EMPOWER ANNUITY INSURANCE COMPANY | Recordkeeper | $27,906 | — | $27,906 |
| MATTHEWS GOLD KENNEDY & SNOW INC | Other Service Provider | $2,034 | $6,628 | $8,662 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $76,660
- Estimated Expense Ratio: 0.890% 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 | $66,362 | — | $66,362 | — | — |
| 2023 | $55,281 | — | $55,281 | — | — |
| 2022 | $45,843 | — | $45,843 | — | — |