Plan Snapshot
- Plan Sponsor: Philips North America LLC
- Sponsor EIN: 133429115
- Sponsor Address: 222 JACOBS STREET, 3RD FLOOR, CAMBRIDGE, MA, 02141
- Plan Type: DB
- Total Participants: 1,369
- Total Assets: $476.6M
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 | 1,369 | $476.6M | $0 | $0 |
| 2023 | 1,514 | $489.0M | $0 | $0 |
| 2022 | 1,670 | $504.4M | $0 | $0 |
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 |
|---|---|---|---|---|
| JOHNSON O'CONNOR FERON & CARUCCI LL | Auditor | $32,000 | — | $32,000 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $32,000
- Estimated Expense Ratio: 0.007% 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 | $1,343,059 | — | — | $32,000 | — |
| 2023 | $1,380,869 | — | — | $32,000 | — |
| 2022 | $1,424,775 | — | — | — | $408,980 |