Plan Snapshot
- Plan Sponsor: Spencer Technologies, INC.
- Sponsor EIN: 050499679
- Sponsor Address: 10 TROTTER DR, MEDWAY, MA, 02053
- Plan Type: 401(k)
- Total Participants: 420
- Total Assets: $10.0M
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. |
|---|---|---|---|---|
| 2023 | 420 | $10.0M | $21,771 | $893,719 |
| 2022 | 371 | $9.0M | $0 | $786,910 |
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 |
|---|---|---|---|---|
| ROCKLAND TRUST | Investment Advisor | $59,048 | — | $59,048 |
| PKF O'CONNOR DAVIES LLP | Auditor | $23,400 | — | $23,400 |
| EMPOWER ADVISORY GROUP, LLC | Investment Advisor | $22,544 | — | $22,544 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $104,992
- Estimated Expense Ratio: 1.054% 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 |
|---|---|---|---|---|---|
| 2023 | $52,053 | $40,353 | — | $11,700 | — |
| 2022 | $30,694 | — | $30,694 | — | — |