Plan Snapshot
- Plan Sponsor: Martin Tractor, INC. D/B/A Martin
- Sponsor EIN: 371322641
- Sponsor Address: 250 E. MAIN STREET, GALESBURG, IL, 61401
- Plan Type: 401(k)
- Total Participants: 295
- Total Assets: $15.8M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 295 | $15.8M | $584,704 | $1.2M |
| 2023 | 281 | $12.9M | $588,642 | $1.1M |
| 2022 | 239 | $10.7M | $522,759 | $952,512 |
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 |
|---|---|---|---|---|
| MAQUOKETA STATE BANK | Investment Advisor | $33,954 | — | $33,954 |
| EMPOWER ANNUITY INSURANCE COMPANY | Recordkeeper | $25,774 | — | $25,774 |
| THE FINWAY GROUP LLC | Other Service Provider | $23,731 | — | $23,731 |
| LEAFHOUSE FINANCIAL ADVISORS, LLC | Other Service Provider | $6,373 | — | $6,373 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $89,832
- Estimated Expense Ratio: 0.570% 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 | $74,519 | — | $74,519 | — | — |
| 2023 | $68,392 | — | $68,392 | — | — |
| 2022 | $85,749 | — | $85,749 | — | — |