Plan Snapshot
- Plan Sponsor: Novaspect, INC.
- Sponsor EIN: 362585273
- Sponsor Address: 1124 TOWER ROAD, SCHAUMBURG, IL, 60173
- Plan Type: 401(k)
- Total Participants: 496
- Total Assets: $112.1M
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. |
|---|---|---|---|---|
| 2024 | 496 | $112.1M | $2.7M | $4.7M |
| 2023 | 439 | $97.7M | $2.5M | $4.4M |
| 2022 | 394 | $79.0M | $2.1M | $3.7M |
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 |
|---|---|---|---|---|
| STRATEGIC ADVISORS, INC. | ADVISOR | $8,880 | — | $8,880 |
| DIGIOVINE HNILO JORDAN JOHNSON, LTD | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- STRATEGIC ADVISORS, INC. — ADVISOR
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $8,880
- Estimated Expense Ratio: 0.008% 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 | -$58,735 | $8,880 | — | — | — |
| 2023 | -$42,889 | $7,374 | $1,500 | $10,900 | — |
| 2022 | -$39,579 | $7,009 | — | — | — |