Plan Snapshot
- Plan Sponsor: Vernor Material & Equipment Company, INC.
- Sponsor EIN: 741823144
- Sponsor Address: 545 WILSON ROAD, FREEPORT, TX, 77541
- Plan Type: 401(k)
- Total Participants: 197
- Total Assets: $7.8M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: Yes
- 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 | 197 | $7.8M | $275,568 | $489,218 |
| 2023 | 180 | $6.8M | $272,406 | $452,838 |
| 2022 | 183 | $5.9M | $309,896 | $565,074 |
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 | SERVICE PROVIDER | $37,336 | — | $37,336 |
| MOORE & REICHL & BAKER, P.C. | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- LINCOLN NATIONAL CORPORATION — SERVICE PROVIDER
- MOORE & REICHL & BAKER, P.C. — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $37,336
- Estimated Expense Ratio: 0.480% 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 | $40,458 | $2,672 | — | — | — |
| 2023 | $48,175 | — | $48,175 | — | — |
| 2022 | $41,424 | — | $41,424 | — | — |