Plan Snapshot
- Plan Sponsor: Prospect Echn, INC.
- Sponsor EIN: 812312893
- Sponsor Address: 71 HAYNES STREET, MANCHESTER, CT, 06040
- Plan Type: DB
- Total Participants: 304
- Total Assets: $74.2M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 304 | $74.2M | $4.5M | $0 |
| 2023 | 335 | $85.6M | $5.6M | $0 |
| 2022 | 378 | $87.6M | $1.6M | $0 |
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 | $320,609 | — | $320,609 |
| BDO | ACCOUNTANT | $52,624 | — | $52,624 |
| AETNA LIFE INSURANCE COMPANY | RECORDKEEPER/BOOKKEEPER | $25,931 | — | $25,931 |
| GROOM LAW GROUP, CHARTERED | LEGAL | $20,425 | — | $20,425 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BDO — ACCOUNTANT
- GROOM LAW GROUP, CHARTERED — LEGAL
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $419,589
- Estimated Expense Ratio: 0.566% 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 | $1,689,807 | — | $338,921 | $34,312 | — |
| 2023 | $1,612,223 | — | $313,803 | — | — |
| 2022 | $1,511,953 | — | $302,827 | — | $27,148 |