# Profac, INC. Dba Merritt Woodwork 401(k) Plan
Source: https://planprovider.pro/companies/profac-inc-dba-merritt-woodwork-401k-plan

> Profac, INC. Dba Merritt Woodwork's 401(k) plan: 123 participants, plan year 2023 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2023.

## Plan Snapshot

- **Plan Sponsor:** Profac, INC. Dba Merritt Woodwork

- **Sponsor EIN:** 341107300

- **Sponsor Address:** 7198 INDUSTRIAL PARK BLVD, MENTOR, OH, 44060

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

- **Total Participants:** 123

- **Total Assets:** $6.6M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** No

- **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.|

| 2023|123|$6.6M|$189,618|$450,650|

| 2022|127|$5.3M|$181,528|$425,244|

## 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|

| SYMPHONY FINANCIAL SERVICES|SERVICE PROVIDER|—|$45,840|$45,840|

| TRINITY PENSION CONSULTANTS|OTHER SERVICES|—|$5,538|$5,538|

| BARNES WENDLING CPAS, INC.|Auditor|—|—|$0|

## Plan Fees & Expenses

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

- **Total Service Provider Fees:** $51,378

- **Estimated Expense Ratio:** 0.780% 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|

| 2023|$20,432|—|$20,432|—|—|

| 2022|$11,943|$2,289|$3,154|—|$6,500|

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