Plan Snapshot
- Plan Sponsor: Paul A. Schmitt Music Company
- Sponsor EIN: 410526620
- Sponsor Address: 7800 HARMONY DRIVE, BLOOMINGTON, MN, 55439
- Plan Type: 401(k)
- Total Participants: 252
- Total Assets: $10.3M
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. |
|---|---|---|---|---|
| 2024 | 252 | $10.3M | $0 | $466,085 |
| 2023 | 191 | $9.5M | $40 | $506,153 |
| 2022 | 199 | $11.1M | $39,584 | $495,192 |
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 |
|---|---|---|---|---|
| RAYMOND JAMES | Investment Advisor | $36,572 | — | $36,572 |
| EMPOWER ANNUITY INSURANCE COMPANY O | Recordkeeper | $11,034 | — | $11,034 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $47,606
- Estimated Expense Ratio: 0.464% 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 | $47,606 | $36,572 | — | — | — |
| 2023 | $47,460 | $36,467 | — | — | — |
| 2022 | $58,359 | — | $58,359 | — | — |