Plan Snapshot
- Plan Sponsor: Somero Enterprises INC
- Sponsor EIN: 203225968
- Sponsor Address: 14530 GLOBAL PKWY, FORT MYERS, FL, 33913
- Plan Type: 401(k)
- Total Participants: 147
- Total Assets: $24.0M
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 | 147 | $24.0M | $979,486 | $1.4M |
| 2023 | 172 | $21.5M | $1.0M | $1.4M |
| 2022 | 184 | $17.1M | $1.0M | $1.3M |
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 |
|---|---|---|---|---|
| THE VANGUARD GROUP, INC. | NONE | $6,519 | — | $6,519 |
| ANDERS MINKLER HUBER & HELM LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- THE VANGUARD GROUP, INC. — NONE
- ANDERS MINKLER HUBER & HELM LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $6,519
- Estimated Expense Ratio: 0.027% 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 | $6,519 | — | $6,519 | — | — |
| 2023 | $20,170 | — | $20,170 | — | — |
| 2022 | $10,175 | — | $10,175 | — | — |