Plan Snapshot
- Plan Sponsor: Culp INC Employees Ret Bldr Plan
- Sponsor EIN: 561001967
- Sponsor Address: 1823 EASTCHESTER DRIVE, SUITE 300, HIGH POINT, NC, 272651402
- Plan Type: 401(k)
- Total Participants: 459
- Total Assets: $44.7M
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 | 459 | $44.7M | $1.1M | $1.9M |
| 2023 | 441 | $41.8M | $1.1M | $2.0M |
| 2022 | 484 | $40.8M | $1.0M | $1.9M |
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 |
|---|---|---|---|---|
| RAYMOND JAMES | INVESTMENT ADVISOR | $86,499 | — | $86,499 |
| GREER WALKER, LLP | AUDITOR | $27,000 | — | $27,000 |
| EMPOWER ANNUITY INSURANCE COMPANY | RECORDKEEPER | $13,950 | — | $13,950 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $127,449
- Estimated Expense Ratio: 0.285% 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 | $128,449 | $86,499 | — | $27,000 | — |
| 2023 | $121,994 | $82,400 | — | $25,000 | — |
| 2022 | $113,530 | $86,965 | $11,565 | — | $15,000 |