Plan Snapshot
- Plan Sponsor: Novares Us LLC
- Sponsor EIN: 351997449
- Sponsor Address: DALE DEYOUNG, LIVONIA, MI, 48152
- Plan Type: 401(k)
- Total Participants: 310
- Total Assets: $28.8M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- 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 | 310 | $28.8M | $286,172 | $1.2M |
| 2023 | 361 | $25.9M | $297,773 | $1.3M |
| 2022 | 386 | $24.5M | $326,708 | $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 |
|---|---|---|---|---|
| FORVIS MAZARS, LLP | Auditor | $26,070 | — | $26,070 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FORVIS MAZARS, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $26,070
- Estimated Expense Ratio: 0.091% 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 | $90,159 | $5,269 | — | $26,070 | — |
| 2023 | $116,367 | $66,553 | — | $31,578 | — |
| 2022 | $37,719 | $6,568 | — | — | — |