Plan Snapshot
- Plan Sponsor: Somerset Hardwood Flooring, INC.
- Sponsor EIN: 611074211
- Sponsor Address: P.O. BOX 1355, SOMERSET, KY, 42502
- Plan Type: 401(k)
- Total Participants: 194
- Total Assets: $3.6M
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 | 194 | $3.6M | $224,666 | $405,714 |
| 2023 | 315 | $4.1M | $155,628 | $308,887 |
| 2022 | 459 | $4.5M | $313,655 | $642,535 |
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 |
|---|---|---|---|---|
| FORVIS MAZARS, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FORVIS MAZARS, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 | $21,092 | $10,048 | — | — | — |
| 2023 | $14,746 | $7,027 | — | — | — |
| 2022 | $19,329 | $3,956 | — | — | — |