# Island Kinetics, INC. Dba Covalence Laboratories 401(k) Plan
Source: https://planprovider.pro/companies/island-kinetics-inc-dba-covalence-laboratories-860833270-001

> Island Kinetics, INC. Dba Covalence Laboratories's 401(k) plan: 163 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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|—|—|

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