2023 Form 5500 filing — Nortech Systems 401(K) Profit Sharing Plan
Plain-English filing 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, this is the 2023 Form 5500 filing (EFAST2 acknowledgement 20240924143729NAL0026417906001) for Nortech Systems 401(K) Profit Sharing Plan, reported by Nortech Systems Inc. under EIN 41-1681094 and plan number 001. It reports 610 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20240924143729NAL0026417906001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Nortech Systems Inc.
- EIN
- 41-1681094
- Plan number
- 001
- Location
- Maple Grove, MN
- Participants
- 610
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $25,544,794
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $25,544,794
- Employer contributions
- $457,656
- Participant contributions
- $2,288,752
- Total income / additions
- $6,721,551
- Benefits paid
- $2,730,424
- Administrative expenses
- $76,702
- Total expenses
- $2,807,126
- Net increase / (decrease)
- $3,914,425
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Fidelity Investments Institutional | RECORDKEEPER | $36,139 | $0 |
| Commonwealth Financial Network | ADVISOR | $31,420 | not reported in the loaded dataset |
| Strategic Advisors, Inc. | ADVISOR | $6,589 | not reported in the loaded dataset |