Plan Snapshot
- Plan Sponsor: Monaghan Medical Corp.
- Sponsor EIN: 141552699
- Sponsor Address: 153 INDUSTRIAL BOULEVARD, PLATTSBURGH, NY, 12901
- Plan Type: 401(k)
- Total Participants: 212
- Total Assets: $29.9M
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 | 212 | $29.9M | $821,075 | $1.7M |
| 2023 | 223 | $27.1M | $789,132 | $1.6M |
| 2022 | 221 | $21.5M | $635,798 | $1.4M |
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 |
|---|---|---|---|---|
| GLOBAL RETIREMENT PARTNERS LLC | INVESTMENT ADVISOR | $29,332 | — | $29,332 |
| EMPOWER LIFE & ANNUITY INSURANCE CO | RECORDKEEPER | $28,536 | — | $28,536 |
| GALLAGHER FLYNN & CO LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- GALLAGHER FLYNN & CO LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $57,868
- Estimated Expense Ratio: 0.194% 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 | $60,028 | $29,332 | — | — | — |
| 2023 | $42,300 | $16,713 | — | — | — |
| 2022 | $59,607 | $38,052 | $21,555 | — | — |