Plan Snapshot
- Plan Sponsor: Davenport Energy, INC/First Piedmont Corporation
- Sponsor EIN: 540740680
- Sponsor Address: 108 SOUTH MAIN ST., CHATHAM, VA, 24531
- Plan Type: 401(k)
- Total Participants: 332
- Total Assets: $15.2M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: Yes
- 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 | 332 | $15.2M | $370,239 | $1.3M |
| 2023 | 332 | $13.8M | $306,349 | $1.2M |
| 2022 | 303 | $11.0M | $216,785 | $1.1M |
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 |
|---|---|---|---|---|
| NEWPORT GROUP, INC. | Recordkeeper | $58,321 | — | $58,321 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $58,321
- Estimated Expense Ratio: 0.384% 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 | $58,321 | — | $45,669 | — | — |
| 2023 | $67,684 | $12,609 | $41,592 | — | — |
| 2022 | $66,041 | — | $38,541 | — | $27,500 |