Plan Snapshot
- Plan Sponsor: Hornets Basketball, LLC
- Sponsor EIN: 743074438
- Sponsor Address: 333 EAST TRADE STREET, CHARLOTTE, NC, 28202
- Plan Type: 401(k)
- Total Participants: 239
- Total Assets: $23.7M
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 | 239 | $23.7M | $800,263 | $1.5M |
| 2023 | 245 | $20.6M | $842,526 | $1.6M |
| 2022 | 268 | $17.3M | $740,066 | $1.4M |
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 |
|---|---|---|---|---|
| FORVIS MAZARS, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FORVIS MAZARS, LLP — Auditor
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 | $92,460 | $46,281 | $46,179 | — | — |
| 2023 | $77,867 | $39,107 | $38,760 | — | — |
| 2022 | $80,948 | $39,975 | $40,973 | — | — |