# Sumitomo Machinery Corporation Of America DB Plan
Source: https://planprovider.pro/companies/sumitomo-machinery-corporation-of-america-plan-001

> Sumitomo Machinery Corporation Of America's DB plan: 317 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, 23323

- **Plan Type:** DB

- **Total Participants:** 317

- **Total Assets:** $55.6M

## 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|317|$55.6M|$2.1M|$0|

| 2023|361|$55.9M|$0|$0|

| 2022|371|$53.6M|$4.5M|$0|

## 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|$239,032|—|$239,032|

| PRINCIPAL GLOBAL INVESTORS LLC|INVESTMENT ADVISORY|$24,686|—|$24,686|

| PB MARES, LLC|Auditor|—|—|$0|

### Verified Provider Profiles

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

- [PB MARES, LLC](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:** $263,718

- **Estimated Expense Ratio:** 0.474% 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|$301,955|$34,686|$204,346|—|—|

| 2023|$445,818|$33,548|$233,438|—|—|

| 2022|$273,537|$33,080|$184,929|—|—|

## Similar Plans

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- [R.A Jones & Co.](https://planprovider.pro/companies/r-a-jones-co-401k-plan-004) — 910 participants

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