Plan Snapshot
- Plan Sponsor: Novarad Corporation
- Sponsor EIN: 870624648
- Sponsor Address: PO BOX 859, PROVO, UT, 84603
- Plan Type: 401(k)
- Total Participants: 116
- Total Assets: $13.7M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 116 | $13.7M | $196,993 | $618,731 |
| 2023 | 155 | $12.7M | $300,060 | $697,070 |
| 2022 | 166 | $10.4M | $308,498 | $743,241 |
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 |
|---|---|---|---|---|
| SQUIRE & CO. | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- SQUIRE & CO. — Auditor
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 | $69,987 | — | $69,987 | — | — |
| 2023 | $60,320 | — | $60,320 | — | — |
| 2022 | $51,693 | — | $51,693 | — | — |