Plan Snapshot
- Plan Sponsor: Machine Specialties, INC.
- Sponsor EIN: 560939724
- Sponsor Address: 6511 FRANZ WARNER PARKWAY, WHITSETT, NC, 27377
- Plan Type: 401(k)
- Total Participants: 303
- Total Assets: $16.6M
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 | 303 | $16.6M | $543,405 | $1.3M |
| 2023 | 303 | $14.8M | $502,011 | $1.2M |
| 2022 | 306 | $12.3M | $388,861 | $991,812 |
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 |
|---|---|---|---|---|
| BRESLOW STARLING FROST WARNER BOGER | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 | $66,226 | $29,591 | — | — | — |
| 2023 | $60,157 | $31,180 | — | — | — |
| 2022 | $63,802 | — | $43,802 | — | $20,000 |