Plan Snapshot
- Plan Sponsor: Source 1 Solutions, INC.
- Sponsor EIN: 452682123
- Sponsor Address: 16331 BAY VISTA DRIVE, TAMPA, FL, 33760
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 89
- Total Assets: $92
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2025 | 89 | $92 | $0 | $0 |
| 2024 | 76 | $63,134 | $808,121 | $311,286 |
| 2023 | 77 | $11,437 | $568,746 | $292,824 |
| 2022 | 70 | $11,944 | $177,821 | $96,918 |
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 BENECON GROUP | Investment Advisor | $74,620 | — | $74,620 |
| MCGRIFF INSURANCE SERVICES (FL) | Investment Advisor | $44,955 | — | $44,955 |
| MERITAIN HEALTH, AN AETNA COMPANY | Other Service Provider | $8,783 | — | $8,783 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $128,358
- Estimated Expense Ratio: 139519.565% 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 |
|---|---|---|---|---|---|
| 2025 | $1,697,642 | — | — | — | — |
| 2024 | $1,083,058 | — | — | — | — |
| 2023 | $920,783 | — | — | — | — |
| 2022 | $270,376 | — | — | — | — |