Plan Snapshot
- Plan Sponsor: Carter Machinery Company, INC.
- Sponsor EIN: 371170559
- Sponsor Address: 1330 LYNCHBURG TPKE., SALEM, VA, 24153
- Plan Type: 401(k)
- Total Participants: 3,101
- Total Assets: $466.2M
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 | 3,101 | $466.2M | $18.9M | $20.8M |
| 2023 | 2,925 | $405.8M | $16.3M | $18.2M |
| 2022 | 2,627 | $340.8M | $14.0M | $15.0M |
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 |
|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE COMPANY O | NONE | $170,490 | — | $170,490 |
| BROWN EDWARDS & COMPANY, LLP | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $170,490
- Estimated Expense Ratio: 0.037% 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 | $171,390 | — | — | — | — |
| 2023 | $156,928 | — | — | — | — |
| 2022 | $133,256 | $261 | $132,995 | — | — |