Plan Snapshot
- Plan Sponsor: Saipem America, INC.
- Sponsor EIN: 760310017
- Sponsor Address: 1311 BROADFIELD BLVD, HOUSTON, TX, 770845186
- Plan Type: 401(k)
- Total Participants: 205
- Total Assets: $26.5M
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 | 205 | $26.5M | $908,048 | $1.9M |
| 2023 | 176 | $21.9M | $764,957 | $1.6M |
| 2022 | 176 | $17.7M | $558,445 | $1.1M |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $96,293 | — | $96,293 |
| B. RILEY WEALTH ADVISORS, INC. | INVESTMENT ADVISORY | — | $29,379 | $29,379 |
| ROBERTSON & ROBERTSON | ACCOUNTANT | $12,425 | — | $12,425 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- ROBERTSON & ROBERTSON — ACCOUNTANT
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $138,097
- Estimated Expense Ratio: 0.521% 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 | $108,718 | — | — | $12,425 | — |
| 2023 | $99,952 | $24,149 | — | $12,245 | — |
| 2022 | $92,039 | — | $79,615 | — | $12,424 |