Plan Snapshot
- Plan Sponsor: Farris Fab & Machine
- Sponsor EIN: 561241443
- Sponsor Address: 1006 W ACADEMY ST, CHERRYVILLE, NC, 28021
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 142
- Total Assets: $0
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 142 | $0 | $0 | $0 |
| 2023 | 153 | $0 | $0 | $0 |
| 2022 | 163 | $0 | $0 | $0 |
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 |
|---|---|---|---|---|
| TPAC UNDERWRITERS INC | Other Service Provider | $426,097 | — | $426,097 |
| CORPORATE BENEFITS SERVICE | Other Service Provider | $63,118 | — | $63,118 |
| WATSON INS AGENCY | Insurance Carrier | $47,775 | — | $47,775 |
| CIGNA | Other Service Provider | $16,797 | — | $16,797 |
| CUPEPPER DEVEREAUX INC | Other Service Provider | $6,840 | — | $6,840 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $560,627
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 | — | — | — | — | — |
| 2023 | — | — | — | — | — |
| 2022 | — | — | — | — | — |