# Choanoke Area Development Association Of North Carolina, INC. 403(b) Plan
Source: https://planprovider.pro/companies/choanoke-area-development-association-of-north-carolina-inc-403b-plan

> Choanoke Area Development Association Of North Carolina, INC.'s 403(b) plan: 135 participants, plan year 2024 financials, providers, and benchmarks from Form…

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/lincoln-financial-group) — SERVICE PROVIDER

- [MPCOMPANY LLP](https://planprovider.pro/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|—|—|

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