Plan Snapshot
- Plan Sponsor: Scherer Bros Lumber Co
- Sponsor EIN: 410678286
- Sponsor Address: 9401 73RD AVE NORTH SUITE 400, BROOKLYN PARK, MN, 55428
- Plan Type: 401(k)
- Plan Number: 005
- Total Participants: 142
- Total Assets: $16.8M
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 | 142 | $16.8M | $288,639 | $611,528 |
| 2023 | 141 | $16.7M | $286,950 | $559,495 |
| 2022 | 136 | $14.7M | $293,390 | $571,035 |
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 |
|---|---|---|---|---|
| MINNESOTA LIFE INSURANCE COMPANY | Other Service Provider | $31,771 | — | $31,771 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $31,771
- Estimated Expense Ratio: 0.190% 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 | $15,512 | — | $15,512 | — | — |
| 2023 | $7,869 | — | $7,869 | — | — |
| 2022 | $16,811 | — | $16,811 | — | — |