Plan Snapshot
- Plan Sponsor: Novatec, INC.
- Sponsor EIN: 520815915
- Sponsor Address: 222 EAST THOMAS AVENUE, BALTIMORE, MD, 21225
- Plan Type: 401(k)
- Total Participants: 108
- Total Assets: $12.5M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- 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 | 108 | $12.5M | $293,354 | $554,369 |
| 2023 | 115 | $10.9M | $299,624 | $585,363 |
| 2022 | 83 | $8.9M | $247,176 | $579,507 |
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 |
|---|---|---|---|---|
| CREATIVE FINANCIAL GROUP | INVESTMENT ADVISOR | $34,371 | — | $34,371 |
| PROFESSIONAL CAPITAL SERVICES, LLC. | CONTRACT ADMINISTRATOR | $24,998 | — | $24,998 |
| NEWSQUARE CAPITAL, LLC | INVESTMENT MANAGEMENT | $22,914 | — | $22,914 |
| GROSS MENDELSOHN | AUDITOR | $17,818 | — | $17,818 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- PROFESSIONAL CAPITAL SERVICES, LLC. — CONTRACT ADMINISTRATOR
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $100,101
- Estimated Expense Ratio: 0.798% 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 | $100,101 | $57,285 | $24,998 | $17,818 | — |
| 2023 | $71,721 | $47,940 | $23,781 | — | — |
| 2022 | $76,506 | $36,306 | $40,200 | — | — |