# Somerset Planning & Engineering LLC Dba Somerset Engineering 401(k) Plan
Source: https://planprovider.pro/companies/somerset-planning-engineering-llc-dba-somerset-engineering-401k-plan

> Somerset Planning & Engineering LLC Dba Somerset Engineering's 401(k) plan: 15 participants, plan year 2024 financials, providers, and benchmarks from Form 5…

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Somerset Planning & Engineering LLC Dba Somerset Engineering

- **Sponsor EIN:** 161670860

- **Sponsor Address:** 222 WEST MAIN STREET, STE. 100, SOMERSET, PA, 15501

- **Plan Type:** 401(k)

- **Total Participants:** 15

- **Total Assets:** $2.5M

## 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|15|$2.5M|$23,651|$71,128|

| 2023|377|$43.4M|$529,976|$1.7M|

## 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|

| HERBEIN AND COMPANY, INC.|Auditor|$11,200|—|$11,200|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [HERBEIN AND COMPANY, INC.](https://planprovider.pro/provider/herbein-company-inc) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $11,200

- **Estimated Expense Ratio:** 0.455% 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|$18,295|—|$6,870|$11,200|—|

| 2023|$29,166|$29,166|—|—|—|

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