# Charles Products INC. 401(k) Plan
Source: https://planprovider.pro/companies/charles-products-inc-401k-plan

> Charles Products INC.'s 401(k) plan: 204 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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|

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