Plan Snapshot
- Plan Sponsor: Power Drives, INC.
- Sponsor EIN: 160709428
- Sponsor Address: 801 EXCHANGE STREET, BUFFALO, NY, 14210
- Plan Type: 401(k)
- Total Participants: 103
- Total Assets: $8.3M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- 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 | 103 | $8.3M | $65,751 | $527,819 |
| 2023 | 127 | $7.9M | $98,077 | $517,505 |
| 2022 | 122 | $6.6M | $84,595 | $516,006 |
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 |
|---|---|---|---|---|
| BONADIO & CO., LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BONADIO & CO., LLP — Auditor
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 | $53,235 | $21,288 | — | — | — |
| 2023 | $46,112 | $18,495 | — | — | — |
| 2022 | $48,997 | $1,203 | — | — | — |