Plan Snapshot
- Plan Sponsor: State Industrial Products
- Sponsor EIN: 340552740
- Sponsor Address: 5915 LANDERBROOK DRIVE, MAYFIELD HEIGHTS, OH, 44124
- Plan Type: 401(k)
- Total Participants: 545
- Total Assets: $83.7M
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 | 545 | $83.7M | $1.0M | $3.5M |
| 2023 | 563 | $78.1M | $879,228 | $3.2M |
| 2022 | 538 | $66.7M | $813,139 | $3.1M |
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 VANGUARD GROUP, INC. | NONE | $98,481 | — | $98,481 |
| MEADEN & MOORE, LTD | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- THE VANGUARD GROUP, INC. — NONE
- MEADEN & MOORE, LTD — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $98,481
- Estimated Expense Ratio: 0.118% 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 | $98,856 | — | — | — | — |
| 2023 | $113,313 | — | — | — | — |
| 2022 | $108,312 | — | — | — | — |