Plan Snapshot
- Plan Sponsor: Planet Technologies, INC.
- Sponsor EIN: 522062401
- Sponsor Address: 9801 WASHINGTONIAN BLVD, GAITHERSBURG, MD, 20878
- Plan Type: 401(k)
- Total Participants: 371
- Total Assets: $25.0M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: Yes
- 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 | 371 | $25.0M | $713,285 | $3.4M |
| 2023 | 378 | $19.7M | $635,693 | $3.0M |
| 2022 | 337 | $13.1M | $542,824 | $2.5M |
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 |
|---|---|---|---|---|
| NEWPORT GROUP, INC. | RECORDKEEPER | $45,725 | — | $45,725 |
| PNC INSTITUTIONAL ASSET MANAGEMENT | ADVISOR | $26,286 | — | $26,286 |
| NEWPORT TRUST COMPANY | TRUSTEE | $6,571 | — | $6,571 |
| FAW, CASSON & CO., LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FAW, CASSON & CO., LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $78,582
- Estimated Expense Ratio: 0.314% 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 | $78,581 | $26,876 | $41,719 | — | — |
| 2023 | $55,355 | $18,493 | $29,400 | — | — |
| 2022 | $46,128 | $11,066 | $33,127 | — | $1,935 |