Nortech Systems 401(K) Profit Sharing Plan — Form 5500 plan (Nortech Systems Inc.)
Plain-English plan summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, Nortech Systems 401(K) Profit Sharing Plan is a benefit plan reported by Nortech Systems Inc. under EIN 41-1681094 and plan number 001. The latest loaded filing year is 2023. The filing reports 610 participants and $25,544,794 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Nortech Systems Inc.
- EIN
- 41-1681094
- Plan number
- 001
- Plan type
- 2
- Location
- Maple Grove, MN
- Latest filing year
- 2023
- Participants
- 610
- End-of-year plan assets
- $25,544,794
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 610 | H, C | 20240924143729NAL0026417906001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $25,544,794
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $25,544,794
- Net assets (BOY)
- $21,630,369
Income & contributions
- Employer contributions
- $457,656
- Participant contributions
- $2,288,752
- Total contributions
- $2,794,636
- Total income / additions
- $6,721,551
Expenses & distributions
- Benefits paid
- $2,730,424
- Administrative expenses
- $76,702
- Total expenses
- $2,807,126
- Net increase / (decrease)
- $3,914,425
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Fidelity Investments Institutional | RECORDKEEPER | $36,139 | $0 | 2023 |
| Commonwealth Financial Network | ADVISOR | $31,420 | not reported in the loaded dataset | 2023 |
| Strategic Advisors, Inc. | ADVISOR | $6,589 | not reported in the loaded dataset | 2023 |
Related Form 5500 pages
- All Form 5500 plans for Nortech Systems Inc.
- 2023 Form 5500 filing
- Form 5500 filings in MN
- 401(k) and benefit plan filings in Maple Grove, MN
- Fidelity Investments Institutional — Schedule C compensation
- Commonwealth Financial Network — Schedule C compensation
- Strategic Advisors, Inc. — Schedule C compensation