Plan Snapshot
- Plan Sponsor: Droneup, LLC
- Sponsor EIN: 814177107
- Sponsor Address: 160 NEWTOWN ROAD, SUITE 500, VIRGINIA BEACH, VA, 23462
- Plan Type: 401(k)
- Total Participants: 210
- Total Assets: $6.9M
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 | 210 | $6.9M | $713,051 | $1.6M |
| 2023 | 330 | $5.8M | $878,023 | $1.7M |
| 2022 | 190 | $2.6M | $407,234 | $882,892 |
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 FINANCIAL SERVICES AD | INVESTMENT ADVISORY / NONE | $29,147 | — | $29,147 |
| STANCORP FINANCIAL GROUP | NONE | $13,006 | — | $13,006 |
| ADMINISTRATIVE GROUP, LLC DBA TAG R | RECORDKEEPER | $12,419 | — | $12,419 |
| CHERRY BEKAERT ADVISORY LLC | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- RAYMOND JAMES FINANCIAL SERVICES AD — INVESTMENT ADVISORY / NONE
- STANCORP FINANCIAL GROUP — NONE
- ADMINISTRATIVE GROUP, LLC DBA TAG R — RECORDKEEPER
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $54,572
- Estimated Expense Ratio: 0.790% 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 | $59,210 | — | $59,210 | — | — |
| 2023 | $46,111 | $19,065 | $19,011 | — | — |
| 2022 | — | — | — | — | — |