# Novaspect, INC. 401(k) Plan
Source: https://planprovider.pro/companies/novaspect-inc-401k-plan

> Novaspect, INC.'s 401(k) plan: 496 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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.](https://planprovider.pro/provider/creative-planning) — 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|—|—|—|

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