Plan Snapshot
- Plan Sponsor: The Bernick Companies
- Sponsor EIN: 410149440
- Sponsor Address: PO BOX 7008, ST. CLOUD, MN, 56302
- Plan Type: 401(k)
- Total Participants: 668
- Total Assets: $64.3M
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 | 668 | $64.3M | $1.0M | $3.1M |
| 2023 | 643 | $55.7M | $994,754 | $2.9M |
| 2022 | 607 | $47.7M | $904,135 | $2.7M |
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 |
|---|---|---|---|---|
| RBC WEALTH MANAGEMENT | ADVISOR | $114,932 | — | $114,932 |
| FIDELITY INVESTMENTS INSTITUTIONAL | RECORDKEEPER | $110,388 | — | $110,388 |
| LB CARLSON, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- RBC WEALTH MANAGEMENT — ADVISOR
- FIDELITY INVESTMENTS INSTITUTIONAL — RECORDKEEPER
- LB CARLSON, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $225,320
- Estimated Expense Ratio: 0.351% 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 | $225,320 | $114,932 | $1,200 | — | — |
| 2023 | $160,711 | $74,627 | — | — | — |
| 2022 | $196,927 | — | — | — | — |