Plan Snapshot
- Plan Sponsor: Kovatch Castings
- Sponsor EIN: 341198748
- Sponsor Address: 3743 TABS DRIVE, UNIONTOWN, OH, 44685
- Plan Type: 401(k)
- Total Participants: 206
- Total Assets: $10.2M
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 | 206 | $10.2M | $333,062 | $560,723 |
| 2023 | 203 | $11.6M | $304,210 | $535,772 |
| 2022 | 179 | $9.7M | $197,313 | $515,915 |
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 |
|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE CO. | Recordkeeper | $16,385 | — | $16,385 |
| KOVATCH CASTINGS, INC. | Auditor | $14,300 | — | $14,300 |
| GLOBAL RETIREMENT PARTNERS LLC | Investment Advisor | $11,951 | — | $11,951 |
| TRINITY PENSION CONSULTANTS INC. | Other Service Provider | $8,680 | — | $8,680 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $51,316
- Estimated Expense Ratio: 0.503% 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 | $55,460 | — | $55,460 | — | — |
| 2023 | $47,453 | — | $47,453 | — | — |
| 2022 | $36,795 | — | $36,795 | — | — |