Plan Snapshot
- Plan Sponsor: Socotec, INC.
- Sponsor EIN: 131584475
- Sponsor Address: 151 WEST 42ND STREET, NEW YORK, NY, 10036
- Plan Type: 401(k)
- Total Participants: 474
- Total Assets: $82.7M
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 | 474 | $82.7M | $1.5M | $4.5M |
| 2023 | 450 | $81.8M | $1.3M | $4.4M |
| 2022 | 388 | $63.6M | $1.1M | $3.9M |
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 |
|---|---|---|---|---|
| MERRILL LYNCH PIERCE FENNER & SMITH | INVESTMENT ADVISOR | $130,049 | — | $130,049 |
| EMPOWER LIFE & ANNUITY INSRUANCE | RECORDKEEPER | $102,938 | — | $102,938 |
| EMPOWER ADVISORY GROUP LLC | INVESTMENT MGMT | $33,923 | — | $33,923 |
| ASSOCIATED PENSION CONSULTANTS INC | CONTRACT ADMIN | $13,592 | $10,000 | $23,592 |
| BDO USA P.C. | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BDO USA P.C. — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $290,502
- Estimated Expense Ratio: 0.351% 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 | $259,240 | — | $259,240 | — | — |
| 2023 | $245,956 | — | $245,956 | — | — |
| 2022 | $132,404 | — | $132,404 | — | — |