Plan Snapshot
- Plan Sponsor: Powercon Corporation
- Sponsor EIN: 520709642
- Sponsor Address: 1551 FLORIDA AVENUE, SEVERN, MD, 21144
- Plan Type: 401(k)
- Total Participants: 341
- Total Assets: $44.9M
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 | 341 | $44.9M | $424,341 | $2.2M |
| 2023 | 341 | $39.3M | $409,883 | $2.1M |
| 2022 | 337 | $33.5M | $398,505 | $2.1M |
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 |
|---|---|---|---|---|
| MORGAN STANLEY SMITH BARNEY | Investment Advisor | $54,511 | — | $54,511 |
| ADP, INC. | Recordkeeper | $42,509 | — | $42,509 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- MORGAN STANLEY SMITH BARNEY — Investment Advisor
- ADP, INC. — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $97,020
- Estimated Expense Ratio: 0.216% 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 | $97,022 | $54,512 | — | — | — |
| 2023 | $91,464 | $49,819 | — | — | — |
| 2022 | $96,757 | — | — | — | — |