Plan Snapshot
- Plan Sponsor: Morganite Industries, INC.
- Sponsor EIN: 561268548
- Sponsor Address: 4000 WESTCHASE BOULEVARD, RALEIGH, NC, 27607
- Plan Type: DB
- Total Participants: 278
- Total Assets: $127.0M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 278 | $127.0M | $0 | $0 |
| 2023 | 317 | $135.9M | $0 | $0 |
| 2022 | 362 | $136.5M | $0 | $0 |
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 |
|---|---|---|---|---|
| SUN LIFE CAPITAL MANAGEMENT | Other Service Provider | $161,850 | — | $161,850 |
| ANGICOURT CAPITAL MANAGEMENT | Other Service Provider | $103,600 | — | $103,600 |
| STATE STREET TRUST | Other Service Provider | $47,563 | — | $47,563 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $313,013
- Estimated Expense Ratio: 0.246% 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 | $444,700 | $314,983 | $129,717 | — | — |
| 2023 | $516,671 | $350,029 | $128,994 | — | — |
| 2022 | $505,760 | $388,568 | $117,192 | — | — |