Plan Snapshot
- Plan Sponsor: Modern Industries, INC.
- Sponsor EIN: 251235458
- Sponsor Address: 613 WEST 11TH STREET PO BOX 399, ERIE, PA, 16501
- Plan Type: 401(k)
- Total Participants: 133
- Total Assets: $9.1M
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 | 133 | $9.1M | $21,536 | $428,338 |
| 2023 | 164 | $9.0M | $147,293 | $467,208 |
| 2022 | 146 | $7.6M | $129,147 | $392,159 |
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 |
|---|---|---|---|---|
| SCHAFFNER KNIGHT MINNAUGH & CO | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 | $44,402 | — | — | — | — |
| 2023 | $44,942 | — | — | — | — |
| 2022 | $44,510 | — | $44,510 | — | — |