Plan Snapshot
- Plan Sponsor: Thorworks Industries, INC.
- Sponsor EIN: 411529458
- Sponsor Address: 2520 CAMPBELL STREET, SANDUSKY, OH, 44870
- Plan Type: 401(k)
- Total Participants: 372
- Total Assets: $10.6M
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 | 372 | $10.6M | $234,026 | $901,749 |
| 2023 | 372 | $8.7M | $212,358 | $777,759 |
| 2022 | 351 | $8.5M | $183,333 | $686,337 |
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 |
|---|---|---|---|---|
| MORGAN STANLEY SMITH BARNEY | INVESTMENT/FINANCIAL ADVI | $22,318 | — | $22,318 |
| ADP, INC. | RECORD KEEPER | $19,100 | — | $19,100 |
| WILLIAM VAUGHAN COMPANY | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- MORGAN STANLEY SMITH BARNEY — INVESTMENT/FINANCIAL ADVI
- ADP, INC. — RECORD KEEPER
- WILLIAM VAUGHAN COMPANY — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $41,418
- Estimated Expense Ratio: 0.390% 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 | $41,419 | $22,318 | — | — | — |
| 2023 | $40,624 | $21,619 | — | — | — |
| 2022 | $40,277 | — | — | — | — |