Plan Snapshot
- Plan Sponsor: Myers Auto Group, LLC
- Sponsor EIN: 461423365
- Sponsor Address: 915 SOUTH DIXIE HIGHWAY, WEST PALM BEACH, FL, 33401
- Plan Type: 401(k)
- Total Participants: 526
- Total Assets: $17.9M
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 | 526 | $17.9M | $833,541 | $2.4M |
| 2023 | 531 | $14.1M | $845,599 | $2.3M |
| 2022 | 468 | $9.7M | $727,616 | $2.0M |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $97,792 | — | $97,792 |
| ROYAL ALLIANCE ASSOCIATES, INC. | INVESTMENT ADVISORY | — | $38,348 | $38,348 |
| DEFINITI, LLC | CONTRACT ADMINISTRATOR | $9,989 | $8,035 | $18,024 |
| HOLYFIELD & THOMAS LLC | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- ROYAL ALLIANCE ASSOCIATES, INC. — INVESTMENT ADVISORY
- HOLYFIELD & THOMAS LLC — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $154,164
- Estimated Expense Ratio: 0.863% 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 | $93,592 | — | $93,592 | — | — |
| 2023 | $84,134 | — | $84,134 | — | — |
| 2022 | $105,021 | — | $105,021 | — | — |