Plan Snapshot
- Plan Sponsor: Soave Enterprises, LLC
- Sponsor EIN: 383389446
- Sponsor Address: 3400 EAST LAFAYETTE, DETROIT, MI, 48207
- Plan Type: 401(k)
- Total Participants: 1,047
- Total Assets: $58.1M
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 | 1,047 | $58.1M | $1.1M | $4.2M |
| 2023 | 547 | $51.3M | $963,980 | $3.7M |
| 2022 | 1,149 | $81.6M | $2.1M | $6.0M |
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 COMPANY O | Other Service Provider | $166,491 | — | $166,491 |
| GREGORY J SCHWARTZ & COMPANY INC | Other Service Provider | $71,566 | — | $71,566 |
| CETERA INVESTMENT ADVISERS LLC | Other Service Provider | $8,915 | — | $8,915 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $246,972
- Estimated Expense Ratio: 0.425% 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 | $132,489 | — | — | — | — |
| 2023 | $287,383 | $27,149 | — | — | — |
| 2022 | $303,572 | $258,121 | $45,451 | — | — |