Plan Snapshot
- Plan Sponsor: Charles Products INC.
- Sponsor EIN: 832466543
- Sponsor Address: 12290 WILKINS AVE, ROCKVILLE, MD, 20852
- Plan Type: 401(k)
- Total Participants: 204
- Total Assets: $6.1M
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 | 204 | $6.1M | $241,728 | $544,736 |
| 2023 | 210 | $5.7M | $215,398 | $503,640 |
| 2022 | 168 | $5.1M | $134,457 | $320,521 |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $31,695 | — | $31,695 |
| ORENDA RETIREMENT, LLC | CONTRACT ADMINISTRATOR | $3,856 | $21,784 | $25,640 |
| TRAILBREAKER ACCOUNTING PLLC | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $57,335
- Estimated Expense Ratio: 0.945% 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 | $35,546 | — | $35,546 | — | — |
| 2023 | $37,769 | — | $37,769 | — | — |
| 2022 | $27,864 | — | $27,514 | — | $350 |