Plan Snapshot
- Plan Sponsor: Shp Management Corporation
- Sponsor EIN: 010477471
- Sponsor Address: 7 THOMAS DRIVE, CUMBERLAND, ME, 04110
- Plan Type: 401(k)
- Total Participants: 352
- Total Assets: $17.8M
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. |
|---|---|---|---|---|
| 2024 | 352 | $17.8M | $653,086 | $991,924 |
| 2023 | 268 | $15.0M | $650,189 | $988,093 |
| 2022 | 258 | $12.8M | $592,791 | $927,063 |
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 |
|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE CO | Recordkeeper | $57,973 | — | $57,973 |
| RAYMOND JAMES | Investment Advisor | $28,967 | — | $28,967 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $86,940
- Estimated Expense Ratio: 0.488% 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 | $52,617 | — | $52,617 | — | — |
| 2023 | $35,971 | $14,648 | — | — | — |
| 2022 | $66,141 | $47,408 | $18,642 | — | — |