Plan Snapshot
- Plan Sponsor: Chartway Federal Credit Union
- Sponsor EIN: 540674620
- Sponsor Address: 5700 CLEVELAND ST., VIRGINIA BEACH, VA, 23462
- Plan Type: 401(k)
- Total Participants: 600
- Total Assets: $44.8M
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 | 600 | $44.8M | $1.6M | $2.3M |
| 2023 | 550 | $38.3M | $1.6M | $2.1M |
| 2022 | 540 | $31.6M | $1.3M | $2.0M |
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 |
|---|---|---|---|---|
| FIDELITY INVESTMENTS INSTITUTIONAL | RECORDKEEPER | $66,563 | — | $66,563 |
| CAPFINANCIAL PARTNERS, LLC. | INVESTMENT ADVISOR | $57,942 | — | $57,942 |
| STRATEGIC ADVISORS, INC. | ADVISOR | $5,565 | — | $5,565 |
| DOEREN MAYHEW ASSURANCE | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FIDELITY INVESTMENTS INSTITUTIONAL — RECORDKEEPER
- STRATEGIC ADVISORS, INC. — ADVISOR
- DOEREN MAYHEW ASSURANCE — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $130,070
- Estimated Expense Ratio: 0.291% 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 | $130,070 | $5,565 | — | — | — |
| 2023 | $124,074 | $4,358 | — | — | — |
| 2022 | $118,912 | $5,994 | — | — | — |