Plan Snapshot
- Plan Sponsor: System Seals, INC.
- Sponsor EIN: 341800628
- Sponsor Address: 9505 MIDWEST AVENUE, CLEVELAND, OH, 44125
- Plan Type: 401(k)
- Total Participants: 117
- Total Assets: $8.1M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- 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 | 117 | $8.1M | $394,978 | $559,193 |
| 2023 | 140 | $6.3M | $239,678 | $536,237 |
| 2022 | 95 | $4.3M | $164,647 | $337,744 |
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 |
|---|---|---|---|---|
| LINCOLN NATIONAL CORPORATION | Recordkeeper | $8,452 | — | $8,452 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- LINCOLN NATIONAL CORPORATION — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $8,452
- Estimated Expense Ratio: 0.104% 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 | $12,752 | — | $12,752 | — | — |
| 2023 | — | — | — | — | — |
| 2022 | — | — | — | — | — |