# Power Drives, INC. 401(k) Plan
Source: https://planprovider.pro/companies/power-drives-inc-401k-plan-001-9428

> Power Drives, INC.'s 401(k) plan: 103 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/bonadio-and-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|—|—|—|

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[View full interactive plan profile on PlanProvider.Pro](https://planprovider.pro/companies/power-drives-inc-401k-plan-001-9428)

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