Plan Snapshot
- Plan Sponsor: Groundworks Operations, LLC
- Sponsor EIN: 812191541
- Sponsor Address: 1741 CORPORATE LANDING PARKWAY, VIRGINIA BEACH, VA, 234545929
- Plan Type: 401(k)
- Total Participants: 3,197
- Total Assets: $62.5M
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 | 3,197 | $62.5M | $5.1M | $9.2M |
| 2023 | 2,744 | $46.7M | $4.3M | $7.5M |
| 2022 | 2,351 | $31.1M | $3.2M | $5.9M |
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 |
|---|---|---|---|---|
| JOHN HANCOCK RETIREMENT PLAN SERVIC | RECORDKEEPER | $102,520 | — | $102,520 |
| KESTRA INVESTMENT SERVICES LLC | INVESTMENT ADVISOR | $50,000 | — | $50,000 |
| WELLS, COLEMAN & COMPANY, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- JOHN HANCOCK RETIREMENT PLAN SERVIC — RECORDKEEPER
- WELLS, COLEMAN & COMPANY, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $152,520
- Estimated Expense Ratio: 0.244% 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 | $209,889 | — | — | — | — |
| 2023 | $173,233 | $50,000 | $28,208 | — | — |
| 2022 | $166,924 | — | $145,336 | — | $21,588 |