Plan Snapshot
- Plan Sponsor: Beach Eye Care, INC.
- Sponsor EIN: 541577646
- Sponsor Address: 1201 FIRST COLONIAL ROAD, VIRGINIA BEACH, VA, 23454
- Plan Type: 401(k)
- Total Participants: 109
- Total Assets: $8.6M
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. |
|---|---|---|---|---|
| 2024 | 109 | $8.6M | $363,945 | $390,293 |
| 2023 | 105 | $7.7M | $356,551 | $400,047 |
| 2022 | 94 | $6.3M | $310,484 | $329,256 |
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 |
|---|---|---|---|---|
| WELLS FARGO ADVISORS | Other Service Provider | $16,151 | — | $16,151 |
| NEWPORT GROUP | Other Service Provider | $12,248 | — | $12,248 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $28,399
- Estimated Expense Ratio: 0.331% 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 | $28,399 | $16,151 | — | — | — |
| 2023 | $30,707 | $13,286 | $4,300 | — | — |
| 2022 | $27,492 | $13,466 | $14,026 | — | — |