Plan Snapshot
- Plan Sponsor: Plato Woodwork, INC.
- Sponsor EIN: 411240351
- Sponsor Address: 200 3RD STREET SW, PLATO, MN, 55370
- Plan Type: 401(k)
- Plan Number: 001
- Total Participants: 159
- Total Assets: $25.1M
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 | 159 | $25.1M | $338,469 | $702,265 |
| 2023 | 146 | $25.0M | $313,113 | $609,164 |
| 2022 | 147 | $21.8M | $388,033 | $597,340 |
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 |
|---|---|---|---|---|
| ALERUS FINANCIAL, N.A. | Investment Advisor | $7,825 | — | $7,825 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- ALERUS FINANCIAL, N.A. — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $7,825
- Estimated Expense Ratio: 0.031% 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 | $11,511 | $3,686 | — | — | — |
| 2023 | $13,933 | $6,537 | — | — | — |
| 2022 | $11,163 | — | — | — | — |