Plan Snapshot
- Plan Sponsor: Mormac Marine Group, INC.
- Sponsor EIN: 061192642
- Sponsor Address: 7300 ENGLE RD, CLEVELAND, OH, 441303429
- Plan Type: 401(k)
- Total Participants: 753
- Total Assets: $34.5M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- 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 | 753 | $34.5M | $1.2M | $1.7M |
| 2023 | 684 | $30.2M | $946,724 | $1.6M |
| 2022 | 629 | $25.0M | $738,722 | $1.3M |
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 |
|---|---|---|---|---|
| COHEN AND COMPANY | 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 | $56,466 | — | — | — | — |
| 2023 | $48,045 | — | — | — | — |
| 2022 | $33,181 | — | — | — | — |