# Ocean Power Technologies, INC. 401(k) Plan
Source: https://planprovider.pro/companies/ocean-power-technologies-inc-401k-plan

> Ocean Power Technologies, INC.'s 401(k) plan: 48 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Ocean Power Technologies, INC.

- **Sponsor EIN:** 222535818

- **Sponsor Address:** 28 ENGLEHARD DRIVE, SUITE B, MONROE TOWNSHIP, NJ, 08831

- **Plan Type:** 401(k)

- **Total Participants:** 48

- **Total Assets:** $6.0M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** Yes

- **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|48|$6.0M|$230,263|$506,289|

| 2023|67|$5.3M|$437,801|$746,383|

| 2022|59|$3.6M|$200,920|$549,307|

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