Plan Snapshot
- Plan Sponsor: Madison Electric Company
- Sponsor EIN: 380783210
- Sponsor Address: 31855 VAN DYKE AVENUE, WARREN, MI, 48093
- Plan Type: 401(k)
- Total Participants: 469
- Total Assets: $46.4M
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 | 469 | $46.4M | $422,566 | $2.1M |
| 2023 | 428 | $42.4M | $410,360 | $2.1M |
| 2022 | 399 | $36.0M | $373,877 | $1.9M |
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 |
|---|---|---|---|---|
| WELLS FARGO CLEARING SERVICES LLC | ADVISOR | $34,567 | — | $34,567 |
| LEAFHOUSE | INVESTMENT ADVISOR | $16,526 | — | $16,526 |
| CAPFINANCIAL PARTNERS, LLC. | INVESTMENT ADVISOR | $7,500 | — | $7,500 |
| GORDON ADVISORS | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- GORDON ADVISORS — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $58,593
- Estimated Expense Ratio: 0.126% 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 | $7,621 | $62,309 | — | — | — |
| 2023 | $148 | $46,787 | — | $16,500 | — |
| 2022 | $115,351 | $137 | — | — | — |