Plan Snapshot
- Plan Sponsor: Wits Solutions, INC
- Sponsor EIN: 263877344
- Sponsor Address: 1528 SOUTH EL CAMINO REAL, SUITE407, SAN MATEO, CA, 94402
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 151
- Total Assets: $66,461
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 151 | $66,461 | $430,914 | $174,836 |
| 2023 | 126 | $36,519 | $429,829 | $173,318 |
| 2022 | 146 | $94,346 | $1.3M | $6,301 |
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 |
|---|---|---|---|---|
| FCE BENEFIT ADMINISTRATORS, INC. | Other Service Provider | $44,181 | $471 | $44,652 |
| INEICH & COMPANY, LLP | Auditor | $21,000 | — | $21,000 |
| BUSINESS BENEFITS GROUP | Other Service Provider | $7,867 | — | $7,867 |
| FIDUCIARY PLAN MANAGEMENT SERVICES | Other Service Provider | $7,525 | — | $7,525 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- INEICH & COMPANY, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $81,044
- Estimated Expense Ratio: 121.942% 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 | $82,059 | — | $35,445 | $21,000 | — |
| 2023 | $91,711 | — | $52,527 | $19,000 | — |
| 2022 | $138,479 | — | $76,060 | — | $38,953 |