Plan Snapshot
- Plan Sponsor: Atlantic Bay Mortgage Group, LLC
- Sponsor EIN: 541822116
- Sponsor Address: 600 LYNNHAVEN PARKWAY STE 100, VIRGINIA BEACH, VA, 234527319
- Plan Type: 401(k)
- Total Participants: 736
- Total Assets: $78.7M
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 | 736 | $78.7M | $1.5M | $6.1M |
| 2023 | 789 | $69.8M | $1.4M | $5.8M |
| 2022 | 842 | $58.8M | $1.8M | $7.2M |
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 |
|---|---|---|---|---|
| THE ASCENT GROUP, LLC | INVESTMENT ADVISORY | $46,855 | $20 | $46,875 |
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $35,227 | — | $35,227 |
| CHARLES W SNADER,P.C | ACCOUNTANT | $6,950 | — | $6,950 |
| CHARLES W. SNADER, P.C. | Auditor | $6,950 | — | $6,950 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- CHARLES W SNADER,P.C — ACCOUNTANT
- CHARLES W. SNADER, P.C. — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $96,002
- Estimated Expense Ratio: 0.122% 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 | $89,032 | $46,854 | $35,228 | $6,950 | — |
| 2023 | $245,555 | $37,478 | $208,077 | — | — |
| 2022 | $210,039 | $37,477 | $172,562 | — | — |