Plan Snapshot
- Plan Sponsor: Choice Financial Group, LLC
- Sponsor EIN: 821650902
- Sponsor Address: 5544 GREENWICH ROAD, VIRGINIA BEACH, VA, 23462
- Plan Type: 401(k)
- Total Participants: 291
- Total Assets: $6.9M
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 | 291 | $6.9M | $218,491 | $898,210 |
| 2023 | 220 | $5.1M | $178,849 | $702,421 |
| 2022 | 204 | $3.5M | $117,488 | $452,212 |
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 |
|---|---|---|---|---|
| WALL EINHORN & CHERNITZER | Auditor | — | — | $0 |
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 | $14,394 | — | $14,394 | — | — |
| 2023 | $11,142 | — | $11,142 | — | — |
| 2022 | $8,245 | — | $8,245 | — | — |