Plan Snapshot
- Plan Sponsor: Mason Brothers Company
- Sponsor EIN: 410397190
- Sponsor Address: 222 4TH STREET NE, WADENA, MN, 564820230
- Plan Type: 401(k)
- Plan Number: 001
- Total Participants: 261
- Total Assets: $21.8M
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. |
|---|---|---|---|---|
| 2025 | 261 | $21.8M | $0 | $0 |
| 2024 | 229 | $21.1M | $747,027 | $609,406 |
| 2023 | 229 | $20.3M | $741,981 | $558,034 |
| 2022 | 281 | $19.5M | $678,840 | $510,523 |
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 | $42,743 | — | $42,743 |
| GLOBAL RETIREMENT PARTNERS LLC | Investment Advisor | — | $28,720 | $28,720 |
| OLSEN THIELEN AND CO. LT | Other Service Provider | $15,669 | — | $15,669 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $87,132
- Estimated Expense Ratio: 0.400% 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 |
|---|---|---|---|---|---|
| 2025 | $3,100,554 | — | $42,744 | $15,668 | — |
| 2024 | $58,642 | — | $43,770 | $14,872 | — |
| 2023 | $56,056 | — | $41,213 | $14,843 | — |
| 2022 | $18,182 | — | $16,988 | — | — |