# Sumitomo Machinery Corporation Of America 401(k) Plan
Source: https://planprovider.pro/companies/sumitomo-machinery-corporation-of-america-401k-plan

> Sumitomo Machinery Corporation Of America's 401(k) plan: 495 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Sumitomo Machinery Corporation Of America

- **Sponsor EIN:** 221815055

- **Sponsor Address:** 4200 HOLLAND BLVD, CHESAPEAKE, VA, 233231525

- **Plan Type:** 401(k)

- **Total Participants:** 495

- **Total Assets:** $70.4M

## 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|495|$70.4M|$1.3M|$4.2M|

| 2023|502|$63.5M|$1.2M|$3.8M|

| 2022|456|$55.3M|$951,070|$3.3M|

## 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|

| PRINCIPAL LIFE INSURANCE COMPANY|CONTRACT ADMINISTRATOR|$110,901|—|$110,901|

| CAPITOL SECURITIES MGMT.|INVESTMENT ADVISORY|$18,487|$13|$18,500|

| PB MARES, LLP|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [PB MARES, LLP](https://planprovider.pro/provider/pbmares-llp) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $129,401

- **Estimated Expense Ratio:** 0.184% 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|$129,388|$18,487|$110,901|—|—|

| 2023|$116,636|$22,896|$93,740|—|—|

| 2022|$108,743|$18,486|$90,257|—|—|

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