Plan Snapshot
- Plan Sponsor: Lake Business Products, INC.
- Sponsor EIN: 341101709
- Sponsor Address: 653 MINER ROAD, HIGHLAND HEIGHTS, OH, 44143
- Plan Type: 401(k)
- Total Participants: 98
- Total Assets: $10.8M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 98 | $10.8M | $125,000 | $346,292 |
| 2023 | 109 | $10.2M | $100,000 | $340,696 |
| 2022 | 108 | $10.0M | $250,000 | $306,474 |
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 |
|---|---|---|---|---|
| NATIONWIDE | Recordkeeper | $28,985 | $9,159 | $38,144 |
| MGO ONESEVEN INVESTMENT ADVISORS | Other Service Provider | $26,169 | $4,907 | $31,076 |
| MGO ONESEVEN INC | Recordkeeper | $2,490 | $24,751 | $27,241 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- NATIONWIDE — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $96,461
- Estimated Expense Ratio: 0.892% 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 | $41,172 | — | — | — | — |
| 2023 | $15,164 | $12,167 | — | — | — |
| 2022 | — | — | — | — | — |