Plan Snapshot
- Plan Sponsor: Choanoke Area Development Association Of North Carolina, INC.
- Sponsor EIN: 560841757
- Sponsor Address: 120 SESSOMS DRIVE P.O. BOX 530, RICH SQUARE, NC, 278690530
- Plan Type: 403(b)
- Total Participants: 135
- Total Assets: $4.1M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: Yes
- 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 | 135 | $4.1M | $125,031 | $254,099 |
| 2023 | 150 | $4.0M | $128,853 | $262,833 |
| 2022 | 127 | $3.8M | $131,877 | $218,459 |
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 |
|---|---|---|---|---|
| LINCOLN NATIONAL CORPORATION | SERVICE PROVIDER | $8,045 | — | $8,045 |
| MPCOMPANY LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- LINCOLN NATIONAL CORPORATION — SERVICE PROVIDER
- MPCOMPANY LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $8,045
- Estimated Expense Ratio: 0.197% 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 | $8,045 | — | $8,045 | — | — |
| 2023 | $7,158 | — | $7,158 | — | — |
| 2022 | $7,117 | — | $7,117 | — | — |