# State Industrial Products Corporation 401(k) Plan
Source: https://planprovider.pro/companies/state-industrial-products-corporation-340552740-503

> State Industrial Products Corporation's 401(k) plan: 622 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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|—|—|—|—|

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