Plan Snapshot
- Plan Sponsor: Palmer Mfg & Tank INC
- Sponsor EIN: 364902216
- Sponsor Address: 2814 W JONES AVE, GARDEN CITY, KS, 678462525
- Plan Type: 401(k)
- Total Participants: 149
- Total Assets: $4.7M
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 | 149 | $4.7M | $237,578 | $395,817 |
| 2023 | 146 | $4.0M | $222,637 | $370,555 |
| 2022 | 153 | $3.2M | $224,606 | $370,121 |
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 |
|---|---|---|---|---|
| 401K GENERATION | Recordkeeper | $12,515 | — | $12,515 |
| LEGACY FINANCIAL STRATEGIES, LLC | Investment Advisor | $8,318 | — | $8,318 |
| LEGACY FINANCIAL STRATEGIES | Investment Advisor | $6,588 | — | $6,588 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $27,421
- Estimated Expense Ratio: 0.584% 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 | $39,666 | $16,231 | $14,317 | — | — |
| 2023 | $41,234 | $14,141 | $13,539 | — | — |
| 2022 | $24,211 | $12,837 | $11,374 | — | — |