Plan Snapshot
- Plan Sponsor: Sovereign Property Management, LLC
- Sponsor EIN: 270427100
- Sponsor Address: 102 LARCH CIR STE 301, WILMINGTON, DE, 19804
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 61
- Total Assets: $116,288
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. |
|---|---|---|---|---|
| 2024 | 61 | $116,288 | $491,828 | $220,689 |
| 2023 | 100 | $24,439 | $367,949 | $178,471 |
| 2022 | 100 | $47,273 | $298,925 | $164,246 |
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 | $20,459 | — | $20,459 |
| WEINER BENEFITS GROUP | Investment Advisor | $14,325 | — | $14,325 |
| HIGHMARK OF DE | Other Service Provider | $7,565 | — | $7,565 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $42,349
- Estimated Expense Ratio: 36.417% 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 | $635,188 | — | — | — | — |
| 2023 | $397,006 | — | — | — | — |
| 2022 | $641,154 | — | — | — | — |