Plan Snapshot
- Plan Sponsor: Lorensen Enterprises INC.
- Sponsor EIN: 061247940
- Sponsor Address: ONE FLAT ROCK PLACE, WESTBROOK, CT, 06498
- Plan Type: 401(k)
- Total Participants: 191
- Total Assets: $8.7M
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 | 191 | $8.7M | $67,185 | $737,005 |
| 2023 | 186 | $8.7M | $70,835 | $695,597 |
| 2022 | 179 | $7.7M | $63,482 | $654,220 |
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 |
|---|---|---|---|---|
| SULLIVAN FINANCIAL LLC | ADVISOR | $59,275 | — | $59,275 |
| ALERUS FINANCIAL, N.A. | TPA | $7,779 | — | $7,779 |
| CLIFTON LARSON ALLEN LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- CLIFTON LARSON ALLEN LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $67,054
- Estimated Expense Ratio: 0.772% 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 | $67,054 | $59,275 | — | — | — |
| 2023 | $55,322 | $50,169 | — | — | — |
| 2022 | $54,922 | — | $5,487 | — | $49,435 |