Plan Snapshot
- Plan Sponsor: Norwood Clinic, INC.
- Sponsor EIN: 630715625
- Sponsor Address: 341 WALKER CHAPEL PLAZA SUITE 305, FULTONDALE, AL, 35068
- Plan Type: 401(k)
- Plan Number: 007
- Total Participants: 0
- Total Assets: $10,615
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: Yes
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2023 | 0 | $10,615 | $24,422 | $45,050 |
| 2022 | 42 | $24.4M | $222,927 | $446,585 |
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 |
|---|---|---|---|---|
| ORENDA RETIREMENT LLC | Recordkeeper | $45,177 | $3,195 | $48,372 |
| MORGAN STANLEY GLOBAL | Investment Advisor | $14,107 | — | $14,107 |
| KASSOUF & CO P.C. | Investment Advisor | $13,665 | — | $13,665 |
| PRINCIPAL LIFE INSURANCE COMPANY | Recordkeeper | $10,138 | — | $10,138 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $86,282
- Estimated Expense Ratio: 812.831% 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 |
|---|---|---|---|---|---|
| 2023 | $43,693 | $27,772 | $15,921 | — | — |
| 2022 | $47,644 | $18,641 | $22,290 | — | $6,713 |