Plan Snapshot
- Plan Sponsor: Hoover & Strong, INC.
- Sponsor EIN: 160484880
- Sponsor Address: 10700 TRADE ROAD, RICHMOND, VA, 23236
- Plan Type: 401(k)
- Total Participants: 83
- Total Assets: $5.4M
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 | 83 | $5.4M | $83,795 | $173,293 |
| 2023 | 84 | $4.7M | $69,228 | $168,669 |
| 2022 | 90 | $4.1M | $69,914 | $197,820 |
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 |
|---|---|---|---|---|
| ADAMS JENKINS CHEATAM | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 | $28,638 | $12,541 | $16,097 | — | — |
| 2023 | $24,269 | $10,938 | $13,331 | — | — |
| 2022 | $28,746 | $12,759 | $15,987 | — | — |