Plan Snapshot
- Plan Sponsor: Channellock, INC.
- Sponsor EIN: 250399850
- Sponsor Address: 1306 SOUTH MAIN STREET, MEADVILLE, PA, 16335
- Plan Type: 401(k)
- Total Participants: 66
- Total Assets: $17.0M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- 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 | 66 | $17.0M | $124,268 | $511,923 |
| 2023 | 67 | $15.9M | $410,320 | $555,601 |
| 2022 | 92 | $16.8M | $436,948 | $597,414 |
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 |
|---|---|---|---|---|
| SCHAFFNER KNIGHT & MINNAUGH CO PC | Auditor | $13,025 | — | $13,025 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $13,025
- Estimated Expense Ratio: 0.077% 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 | $38,974 | — | $21,038 | $13,025 | — |
| 2023 | $35,970 | $1,151 | $3,860 | $12,525 | — |
| 2022 | $28,538 | — | — | — | — |