# Schmitt Management Corporation 401(k) Plan
Source: https://planprovider.pro/companies/schmitt-management-corporation-401k-plan

> Schmitt Management Corporation's 401(k) plan: 109 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Schmitt Management Corporation

- **Sponsor EIN:** 363503402

- **Sponsor Address:** 1975 W. DOWNER PLACE, AURORA, IL, 60506

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

- **Total Participants:** 109

- **Total Assets:** $6.7M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** No

- **Participant Loans:** No

- **Participant-Directed Investments:** No

- **ERISA Section 404(c) Fiduciary Safe Harbor:** Yes

## Plan Financials by Year

| Year|Participants|Total Assets|Employer Contrib.|Employee Contrib.|

| 2024|109|$6.7M|$136,605|$216,474|

| 2023|427|$11.3M|$178,288|$287,142|

| 2022|430|$9.2M|$170,545|$253,256|

## 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|

| OLD SECOND NATIONAL BANK|NONE|$57,720|—|$57,720|

| CASSELL PLAN AUDITS|Auditor|—|—|$0|

## Plan Fees & Expenses

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

- **Total Service Provider Fees:** $57,720

- **Estimated Expense Ratio:** 0.865% 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|$61,580|—|—|—|—|

| 2023|$73,057|—|—|—|—|

| 2022|$64,987|—|—|—|—|

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