Plan Snapshot
- Plan Sponsor: Ovative Group LLC
- Sponsor EIN: 271175614
- Sponsor Address: 729 WASHINGTON AVE N., MINNEAPOLIS, MN, 55401
- Plan Type: 401(k)
- Plan Number: 001
- Total Participants: 712
- Total Assets: $49.9M
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. |
|---|---|---|---|---|
| 2025 | 712 | $49.9M | $0 | $0 |
| 2024 | 493 | $37.8M | $2.3M | $4.3M |
| 2023 | 505 | $27.2M | $2.3M | $4.2M |
| 2022 | 465 | $17.1M | $1.7M | $3.0M |
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 |
|---|---|---|---|---|
| STRATEGIC ADVISORS, INC. | Investment Advisor | $6,120 | — | $6,120 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $6,120
- Estimated Expense Ratio: 0.012% 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 |
|---|---|---|---|---|---|
| 2025 | $3,447,581 | $6,120 | $3,356 | — | — |
| 2024 | $2,673 | $3,648 | $3,263 | — | — |
| 2023 | $2,167 | $1,234 | $2,919 | — | — |
| 2022 | $2,498 | $1 | — | — | — |