Plan Snapshot
- Plan Sponsor: Petrosmith LLC
- Sponsor EIN: 320376135
- Sponsor Address: PO BOX 6291, ABILENE, TX, 79608
- Plan Type: 401(k)
- Total Participants: 496
- Total Assets: $7.1M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 496 | $7.1M | $339,687 | $721,997 |
| 2023 | 413 | $4.6M | $60,789 | $543,506 |
| 2022 | 272 | $4.3M | $271,857 | $454,067 |
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 |
|---|---|---|---|---|
| FIDELITY INVESTMENTS INSTITUTIONAL | RECORDKEEPER | $23,000 | — | $23,000 |
| WEAVER AND TIDWELL LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FIDELITY INVESTMENTS INSTITUTIONAL — RECORDKEEPER
- WEAVER AND TIDWELL LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $23,000
- Estimated Expense Ratio: 0.324% 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 | $23,327 | $327 | — | — | — |
| 2023 | $18,288 | $40 | — | — | — |
| 2022 | $3,160 | $3,160 | — | — | — |