# Skyla Federal Credit Union 401(k) Plan
Source: https://planprovider.pro/companies/charlotte-metro-federal-credit-union-401k-plan

> Skyla Federal Credit Union's 401(k) plan: 309 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Skyla Federal Credit Union

- **Sponsor EIN:** 560772380

- **Sponsor Address:** 3700 SOUTH BLVD, SUITE 400, CHARLOTTE, NC, 28209

- **Plan Type:** 401(k)

- **Total Participants:** 309

- **Total Assets:** $23.0M

## 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|309|$23.0M|$1.1M|$1.6M|

| 2023|287|$17.7M|$868,478|$1.3M|

| 2022|261|$15.9M|$602,865|$1.1M|

## 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|

| DOEREN MAYHEW ASSURANCE|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [DOEREN MAYHEW ASSURANCE](https://planprovider.pro/provider/doeren-mayhew-assurance) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $0

### 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|$81,687|$19,949|$53,758|—|—|

| 2023|$63,629|$15,427|$42,032|—|—|

| 2022|$74,307|$13,665|$60,642|—|—|

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