# Novel Energy Solutions, LLC 401(k) Plan
Source: https://planprovider.pro/companies/novel-energy-solutions-llc-401k-plan

> Novel Energy Solutions, LLC's 401(k) plan: 281 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/boyum-and-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|—|—|

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[View full interactive plan profile on PlanProvider.Pro](https://planprovider.pro/companies/novel-energy-solutions-llc-401k-plan)

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