Plan Snapshot
- Plan Sponsor: Open Access Technology International, INC.
- Sponsor EIN: 411819220
- Sponsor Address: 7901 COMPUTER AVENUE, BLOOMINGTON, MN, 55435
- Plan Type: 401(k)
- Total Participants: 275
- Total Assets: $79.8M
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 | 275 | $79.8M | $1.1M | $2.5M |
| 2023 | 266 | $71.3M | $1.0M | $2.3M |
| 2022 | 271 | $59.3M | $978,881 | $2.2M |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | Recordkeeper | $68,264 | — | $68,264 |
| NFP RETIREMENT INC. | Investment Advisor | $64,543 | $18 | $64,561 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- NFP RETIREMENT INC. — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $132,825
- Estimated Expense Ratio: 0.166% 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 | $132,141 | $64,552 | $67,589 | — | — |
| 2023 | $145,636 | $84,616 | $61,020 | — | — |
| 2022 | $137,315 | $80,237 | $57,078 | — | — |