Plan Snapshot
- Plan Sponsor: The Essex Group INC.
- Sponsor EIN: 042557391
- Sponsor Address: 51 SUMMER ST, ROWLEY, MA, 019691835
- Plan Type: 401(k)
- Total Participants: 1,002
- Total Assets: $4.6M
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 | 1,002 | $4.6M | $84 | $328,897 |
| 2023 | 773 | $4.2M | $700 | $326,802 |
| 2022 | 661 | $3.6M | $1,222 | $363,319 |
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 |
|---|---|---|---|---|
| GAIL WAKEFIELD KEY CONSULTING | Other Service Provider | $27,601 | — | $27,601 |
| BENEFIT PLANS ADMIN SERVICES INC | Recordkeeper | $26,934 | — | $26,934 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BENEFIT PLANS ADMIN SERVICES INC — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $54,535
- Estimated Expense Ratio: 1.183% 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 | $54,536 | $44,923 | $9,123 | — | — |
| 2023 | $41,506 | $34,096 | $6,920 | — | — |
| 2022 | $42,044 | $33,576 | $7,065 | — | — |