# Waytek, INC. 401(k) Plan
Source: https://planprovider.pro/companies/waytek-inc-401k-plan

> Waytek, INC.'s 401(k) plan: 119 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Waytek, INC.

- **Sponsor EIN:** 410991786

- **Sponsor Address:** 2440 GALPIN CT, CHANHASSEN, MN, 55317

- **Plan Type:** 401(k)

- **Total Participants:** 119

- **Total Assets:** $19.5M

## 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|119|$19.5M|$561,542|$767,526|

| 2023|95|$16.3M|$428,228|$675,571|

| 2022|96|$13.9M|$359,685|$625,495|

## 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|

| FROEHLING ANDERSON|Auditor|—|—|$0|

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $0

### 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|$4,569|$2,938|—|—|—|

| 2023|$1,187,408|—|$4,973|—|—|

| 2022|$281,823|—|$4,546|—|—|

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