Plan Snapshot
- Plan Sponsor: Workrite Ergonomics, LLC
- Sponsor EIN: 860940724
- Sponsor Address: 2700 OAK INDUSTRIAL DRIVE NORTHEAST, GRAND RAPIDS, MI, 49505
- Plan Type: 401(k)
- Plan Number: 002
- Total Participants: 66
- Total Assets: $6.6M
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. |
|---|---|---|---|---|
| 2025 | 66 | $6.6M | $127,145 | $378,787 |
| 2024 | 72 | $6.2M | $126,961 | $390,116 |
| 2023 | 74 | $6.8M | $116,754 | $346,570 |
| 2022 | 92 | $6.1M | $138,169 | $334,854 |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | Recordkeeper | $40,786 | $425 | $41,211 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $41,211
- Estimated Expense Ratio: 0.625% 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 |
|---|---|---|---|---|---|
| 2025 | $869,962 | — | — | — | — |
| 2024 | $40,786 | — | $40,786 | — | — |
| 2023 | $15,717 | — | $15,717 | — | — |
| 2022 | $15,091 | — | $15,091 | — | — |