Plan Snapshot
- Plan Sponsor: Woburn Foreign Motors, INC.
- Sponsor EIN: 042621463
- Sponsor Address: 394 WASHINGTON STREET, WOBURN, MA, 01801
- Plan Type: 401(k)
- Total Participants: 373
- Total Assets: $24.7M
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 | 373 | $24.7M | $342,087 | $2.1M |
| 2023 | 304 | $21.0M | $310,959 | $2.0M |
| 2022 | 280 | $17.2M | $318,167 | $2.0M |
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 |
|---|---|---|---|---|
| ADP, INC. | RECORD KEEPER | $66,560 | — | $66,560 |
| COMMONWEALTH EQUITY SERVICES, INC. | INVESTMENT/FINANCIAL ADVI | $50,596 | — | $50,596 |
| CLIFTONLARSONALLEN LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- ADP, INC. — RECORD KEEPER
- COMMONWEALTH EQUITY SERVICES, INC. — INVESTMENT/FINANCIAL ADVI
- CLIFTONLARSONALLEN LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $117,156
- Estimated Expense Ratio: 0.474% 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 | $167,753 | $50,596 | — | — | — |
| 2023 | $141,548 | $41,760 | — | — | — |
| 2022 | $129,739 | — | — | — | — |