Plan Snapshot
- Plan Sponsor: Galloway Ridge, INC.
- Sponsor EIN: 562277623
- Sponsor Address: 3000 GALLOWAY RIDGE, PITTSBORO, NC, 27312
- Plan Type: 403(b)
- Total Participants: 363
- Total Assets: $4.0M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: Yes
- 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 | 363 | $4.0M | $131,079 | $447,575 |
| 2023 | 314 | $3.5M | $131,532 | $382,680 |
| 2022 | 94 | $3.2M | $119,153 | $358,296 |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $21,783 | — | $21,783 |
| STIFEL NICOLAUS & COMPANY INC | OTHER SERVICES | — | $16,570 | $16,570 |
| PARSONS CPA, PLLC | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- STIFEL NICOLAUS & COMPANY INC — OTHER SERVICES
- PARSONS CPA, PLLC — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $38,353
- Estimated Expense Ratio: 0.952% 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 | $24,786 | — | $24,786 | — | — |
| 2023 | $21,667 | — | $21,667 | — | — |
| 2022 | $19,871 | — | $19,871 | — | — |