Plan Snapshot
- Plan Sponsor: Sourcepass, LLC
- Sponsor EIN: 113615387
- Sponsor Address: 515 BROADHOLLOW ROAD, MELVILLE, NY, 11747
- Plan Type: 401(k)
- Total Participants: 454
- Total Assets: $25.9M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 454 | $25.9M | $866,503 | $2.1M |
| 2023 | 272 | $11.1M | $575,692 | $1.3M |
| 2022 | 89 | $3.3M | $188,145 | $313,128 |
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 |
|---|---|---|---|---|
| MML INVESTORS SERVICE LLC | Investment Advisor | $65,758 | $1,162 | $66,920 |
| PRINCIPAL LIFE INSURANCE | Recordkeeper | $66,494 | — | $66,494 |
| ASSOCIATED PENSION CONSULTANTS | Recordkeeper | $4,715 | $10,666 | $15,381 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- MML INVESTORS SERVICE LLC — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $148,795
- Estimated Expense Ratio: 0.574% 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 | $136,967 | $65,758 | $71,209 | — | — |
| 2023 | — | — | — | — | — |
| 2022 | — | — | — | — | — |