Plan Snapshot
- Plan Sponsor: Medical Information Technology, INC
- Sponsor EIN: 042455639
- Sponsor Address: 7 BLUE HILL RIVER RD, CANTON, MA, 02021
- Plan Type: 401(k)
- Total Participants: 3,338
- Total Assets: $103.1M
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 | 3,338 | $103.1M | $1,371 | $16.9M |
| 2023 | 3,333 | $78.3M | $0 | $17.0M |
| 2022 | 3,423 | $53.2M | $0 | $14.5M |
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 |
|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE COMPANY O | RECORDKEEPER | $126,731 | — | $126,731 |
| CREATIVE PLANNING HOLDCO LLC DBA CR | INVESTMENT ADVISOR | $61,617 | — | $61,617 |
| WOLF & COMPANY, P.C. | AUDITOR | $3,510 | — | $3,510 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $191,858
- Estimated Expense Ratio: 0.186% 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 | $192,058 | $61,617 | — | $3,510 | — |
| 2023 | $201,804 | $63,895 | $137,359 | — | — |
| 2022 | $181,408 | $52,762 | $128,146 | — | — |