Plan Snapshot
- Plan Sponsor: Process Equipment, INC.
- Sponsor EIN: 630799730
- Sponsor Address: 2770 WELBORN STREET, PELHAM, AL, 351241760
- Plan Type: 401(k)
- Total Participants: 393
- Total Assets: $20.5M
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 | 393 | $20.5M | $825,767 | $2.1M |
| 2023 | 458 | $17.9M | $942,993 | $2.0M |
| 2022 | 453 | $13.7M | $318,332 | $1.7M |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $43,615 | — | $43,615 |
| WARREN AVERRETT | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $43,615
- Estimated Expense Ratio: 0.213% 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 | $44,756 | — | $44,756 | — | — |
| 2023 | $35,946 | — | $35,946 | — | — |
| 2022 | $30,515 | — | $30,515 | — | — |