# Woburn Foreign Motors, INC. 401(k) Plan
Source: https://planprovider.pro/companies/woburn-foreign-motors-inc-401k-plan

> Woburn Foreign Motors, INC.'s 401(k) plan: 373 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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.](https://planprovider.pro/provider/adp-retirement-services) — RECORD KEEPER

- [COMMONWEALTH EQUITY SERVICES, INC.](https://planprovider.pro/provider/commonwealth-financial-network) — INVESTMENT/FINANCIAL ADVI

- [CLIFTONLARSONALLEN LLP](https://planprovider.pro/provider/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|—|—|—|—|

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