Plan Snapshot
- Plan Sponsor: Sonifi Solutions, INC.
- Sponsor EIN: 460371161
- Sponsor Address: 3900 WEST INNOVATION STREET, SIOUX FALLS, SD, 571077002
- Plan Type: 401(k)
- Total Participants: 614
- Total Assets: $95.2M
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 | 614 | $95.2M | $942,971 | $4.6M |
| 2023 | 620 | $83.5M | $960,157 | $4.4M |
| 2022 | 605 | $67.7M | $837,914 | $4.0M |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $141,784 | — | $141,784 |
| OSAIC WEALTH INC | INVESTMENT ADVISORY | $24,000 | — | $24,000 |
| WOODBURY FINANCIAL SERVICES | INVESTMENT ADVISORY | $12,000 | — | $12,000 |
| EIDE BAILLY LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- OSAIC WEALTH INC — INVESTMENT ADVISORY
- EIDE BAILLY LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $177,784
- Estimated Expense Ratio: 0.187% 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 | $177,784 | $36,000 | $141,784 | — | — |
| 2023 | $139,269 | — | $139,269 | — | — |
| 2022 | $129,810 | — | $129,810 | — | — |