Plan Snapshot
- Plan Sponsor: Milk Specialties Company
- Sponsor EIN: 363452006
- Sponsor Address: 7500 FLYING CLOUD DRIVE, EDEN PRAIRIE, MN, 55344
- Plan Type: DC
- Total Participants: 1,202
- Total Assets: $66.6M
Key Plan Design Features
- Auto-Enrollment: No
- 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 | 1,202 | $66.6M | $4.0M | $5.9M |
| 2023 | 1,120 | $57.4M | $3.5M | $5.1M |
| 2022 | 1,054 | $46.8M | $3.2M | $4.6M |
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 |
|---|---|---|---|---|
| NEWPORT GROUP, INC. | Recordkeeper | $141,790 | — | $141,790 |
| NFP RETIREMENT, INC. | Investment Advisor | $58,624 | — | $58,624 |
| NEWPORT TRUST COMPANY | Custodian / Trustee | $16,745 | — | $16,745 |
| SECURITIES AMERICA ADVISORS, INC. | Investment Advisor | $10,824 | — | $10,824 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $227,983
- Estimated Expense Ratio: 0.342% 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 | $227,983 | $69,448 | $107,854 | — | — |
| 2023 | $214,054 | $58,873 | $99,989 | — | — |
| 2022 | $208,334 | $58,356 | $135,653 | — | $14,325 |