Plan Snapshot
- Plan Sponsor: Novel Energy Solutions, LLC
- Sponsor EIN: 455469407
- Sponsor Address: 2303 WYCLIFF STREET SUITE 300, ST. PAUL, MN, 55114
- Plan Type: 401(k)
- Total Participants: 281
- Total Assets: $5.1M
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 | 281 | $5.1M | $238,940 | $2.0M |
| 2023 | 244 | $3.3M | $187,834 | $1.1M |
| 2022 | 135 | $1.8M | $146,317 | $742,712 |
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 |
|---|---|---|---|---|
| BOYUM & BARENSCHEER PLLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BOYUM & BARENSCHEER PLLP — 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 | $40,758 | $17,879 | — | — | — |
| 2023 | $27,492 | $6,394 | — | — | — |
| 2022 | $30,814 | — | $30,814 | — | — |