Plan Snapshot
- Plan Sponsor: Phillips Precision INC
- Sponsor EIN: 222071997
- Sponsor Address: 7 PAUL KOHNER PLACE, ELMWOOD PARK, NJ, 07407
- Plan Type: 401(k)
- Total Participants: 258
- Total Assets: $7.5M
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 | 258 | $7.5M | $47,200 | $549,382 |
| 2023 | 203 | $6.3M | $42,478 | $400,163 |
| 2022 | 213 | $3.7M | $0 | $338,370 |
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 |
|---|---|---|---|---|
| CITRIN COOPERMAN & CO. LLP | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 | $59,660 | — | — | — | — |
| 2023 | — | — | — | — | — |
| 2022 | $14,718 | — | — | — | — |