Plan Snapshot
- Plan Sponsor: Ortec, INC.
- Sponsor EIN: 570700660
- Sponsor Address: P.O. BOX 1469, EASLEY, SC, 29640
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 274
- Total Assets: $724,675
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 274 | $724,675 | $3.0M | $363,712 |
| 2023 | 269 | $719,939 | $3.0M | $459,567 |
| 2022 | 292 | $698,927 | $2.8M | $437,416 |
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 |
|---|---|---|---|---|
| WELLNET HEALTHCARE ADMINISTRATORS, | Other Service Provider | $146,594 | — | $146,594 |
| IMA FINANCIAL GROUP (ECM SOLUTIONS) | Investment Advisor | $72,842 | — | $72,842 |
| E. K. MCCONKEY & CO., INC. | Investment Advisor | $39,732 | — | $39,732 |
| THE BENECON GROUP, LLC | Investment Advisor | $39,732 | — | $39,732 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $298,900
- Estimated Expense Ratio: 41.246% 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 | $1,090,751 | $79,464 | $221,033 | — | — |
| 2023 | $1,070,693 | $78,912 | $284,516 | — | — |
| 2022 | $875,763 | $73,932 | $222,198 | — | — |