Plan Snapshot
- Plan Sponsor: Mars Electric Company
- Sponsor EIN: 340837654
- Sponsor Address: 6655 BETA DRIVE, SUITE 200, MAYFIELD VILLAGE, OH, 441432380
- Plan Type: 401(k)
- Total Participants: 209
- Total Assets: $20.2M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- 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 | 209 | $20.2M | $607,872 | $1.1M |
| 2023 | 214 | $19.0M | $577,602 | $1.0M |
| 2022 | 200 | $16.2M | $485,578 | $943,708 |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | Recordkeeper | $72,865 | — | $72,865 |
| RAYMOND JAMES FINANCIAL SERVICES IN | Investment Advisor | — | $21,920 | $21,920 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- RAYMOND JAMES FINANCIAL SERVICES IN — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $94,785
- Estimated Expense Ratio: 0.469% 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 | $72,866 | — | $72,866 | — | — |
| 2023 | $67,488 | — | $67,488 | — | — |
| 2022 | $63,841 | — | $63,841 | — | — |