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, Power Drives, Inc. 401(K) Savings Plan is a benefit plan reported by Power Drives, Inc. under EIN 16-0709428 and plan number 001. The latest loaded filing year is 2023. The filing reports 201 participants and $7,868,739 in end-of-year plan assets, where available in the loaded dataset.
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $7,868,739
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $7,868,739
- Net assets (BOY)
- $6,616,883
Income & contributions
- Employer contributions
- $98,077
- Participant contributions
- $517,505
- Total contributions
- $711,287
- Total income / additions
- $2,080,511
Expenses & distributions
- Benefits paid
- $780,336
- Administrative expenses
- $46,112
- Total expenses
- $828,655
- Net increase / (decrease)
- $1,251,856