Plan Snapshot
- Plan Sponsor: Sorenson Communications LLC.
- Sponsor EIN: 870650555
- Sponsor Address: 4192 S RIVERBOAT ROAD, SALT LAKE CITY, UT, 84123
- Plan Type: 401(k)
- Total Participants: 6,108
- Total Assets: $316.5M
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 | 6,108 | $316.5M | $14.7M | $20.5M |
| 2023 | 7,056 | $275.2M | $13.2M | $18.7M |
| 2022 | 8,931 | $240.8M | $7.7M | $18.8M |
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 AND S | RECORDKEEPER | $83,994 | — | $83,994 |
| HBME, LLC | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- HBME, LLC — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $83,994
- 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 | $84,044 | — | — | — | — |
| 2023 | $148,736 | — | — | — | — |
| 2022 | $125,744 | — | — | — | — |