Plan Snapshot
- Plan Sponsor: Cloninger Ford, INC.
- Sponsor EIN: 561465220
- Sponsor Address: 511 JAKE ALEXANDER BLVD. S, SALISBURY, NC, 281451788
- Plan Type: 401(k)
- Total Participants: 367
- Total Assets: $9.1M
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 | 367 | $9.1M | $396,693 | $1.1M |
| 2023 | 455 | $8.3M | $534,608 | $1.0M |
| 2022 | 414 | $6.4M | $283,981 | $822,393 |
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 |
|---|---|---|---|---|
| TURLINGTON AND COMPANY LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- TURLINGTON AND COMPANY LLP — 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 | $63,759 | $28,183 | $35,576 | — | — |
| 2023 | $49,122 | $22,464 | $26,658 | — | — |
| 2022 | $42,573 | $19,905 | $22,668 | — | — |