# Channellock, INC. 401(k) Plan
Source: https://planprovider.pro/companies/channellock-inc-401k-plan-004

> Channellock, INC.'s 401(k) plan: 66 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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|—|—|—|—|

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