Plan Snapshot
- Plan Sponsor: State Industrial Products Corporation
- Sponsor EIN: 340552740
- Sponsor Address: 5915 LANDERBROOK DR STE 300, MAYFIELD HEIGHTS, OH, 44124
- Plan Type: 401(k)
- Plan Number: 503
- Total Participants: 622
- Total Assets: $1.6M
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 | 622 | $1.6M | $5.5M | $2.2M |
| 2023 | 677 | $1.3M | $5.1M | $2.2M |
| 2022 | 682 | $1.0M | $4.8M | $2.1M |
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 |
|---|---|---|---|---|
| CIGNA HEALTH AND LIFE INSURANCE COM | Other Service Provider | $282,362 | — | $282,362 |
| JAMES B OSWALD COMPANY | Other Service Provider | $85,040 | $4,875 | $89,915 |
| DELTA DENTAL OF OHIO | Recordkeeper | $17,549 | — | $17,549 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $389,826
- Estimated Expense Ratio: 23.715% 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 | $224,961 | — | — | — | — |
| 2023 | — | — | — | — | — |
| 2022 | $268,882 | — | — | — | — |