# Vernor Material & Equipment Company, INC. 401(k) Plan
Source: https://planprovider.pro/companies/vernor-material-equipment-company-inc-401k-plan

> Vernor Material & Equipment Company, INC.'s 401(k) plan: 197 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/lincoln-financial-group) — SERVICE PROVIDER

- [MOORE & REICHL & BAKER, P.C.](https://planprovider.pro/provider/moore-reichl-and-baker-pc) — 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|—|—|

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