# Process Technology 401(k) Plan
Source: https://planprovider.pro/companies/process-technology-401k-plan

> Process Technology's 401(k) plan: 329 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Process Technology

- **Sponsor EIN:** 341257334

- **Sponsor Address:** 38809 MENTOR AVE, WILLOUGHBY, OH, 440947932

- **Plan Type:** 401(k)

- **Total Participants:** 329

- **Total Assets:** $23.4M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** Yes

- **Participant Loans:** Yes

- **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|329|$23.4M|$859,746|$974,722|

| 2023|232|$21.0M|$633,456|$988,389|

| 2022|184|$20.6M|$882,068|$898,452|

## 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|$47,788|—|$47,788|

| GALLAGHER FIDUCIARY ADVISORS, LLC|INVESTMENT ADVISORY|—|$14,767|$14,767|

| COHEN & COMPANY, LTD|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [GALLAGHER FIDUCIARY ADVISORS, LLC](https://planprovider.pro/provider/arthur-j-gallagher-and-co) — INVESTMENT ADVISORY

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $62,555

- **Estimated Expense Ratio:** 0.267% 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|$50,835|$1,142|$47,789|—|—|

| 2023|$47,945|—|$47,945|—|—|

| 2022|$48,491|—|$48,491|—|—|

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