Plan Snapshot
- Plan Sponsor: Mai Wealth Management, INC.
- Sponsor EIN: 271099169
- Sponsor Address: 6050 OAK TREE BLVD. SUITE 500, INDEPENDENCE, OH, 44131
- Plan Type: 401(k)
- Total Participants: 503
- Total Assets: $67.7M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: Yes
- 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 | 503 | $67.7M | $2.0M | $5.3M |
| 2023 | 421 | $46.8M | $1.7M | $4.3M |
| 2022 | 382 | $35.6M | $1.3M | $3.2M |
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 |
|---|---|---|---|---|
| VOYA RETIREMENT INSURANCE & ANNUITY | SERVICE PROVIDER | $18,567 | $147 | $18,714 |
| CBIZ CPAS P.C. | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $18,714
- Estimated Expense Ratio: 0.028% 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 | $18,567 | $1,013 | $16,854 | — | — |
| 2023 | $18,335 | $331 | $17,354 | — | — |
| 2022 | $26,733 | — | — | — | — |