Plan Snapshot
- Plan Sponsor: Iq Brands INC
- Sponsor EIN: 453720630
- Sponsor Address: PO BOX 1179, CONOVER, NC, 28613
- Plan Type: 401(k)
- Plan Number: 001
- Total Participants: 95
- Total Assets: $3.4M
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. |
|---|---|---|---|---|
| 2023 | 95 | $3.4M | $127,391 | $195,496 |
| 2022 | 88 | $3.0M | $125,940 | $194,662 |
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 |
|---|---|---|---|---|
| PAYCHEX, INC. | Recordkeeper | $10,277 | — | $10,277 |
| CANNON WEALTH MANAGEMENT SERVICES, | Investment Advisor | $7,648 | — | $7,648 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- PAYCHEX, INC. — Recordkeeper
- CANNON WEALTH MANAGEMENT SERVICES, — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $17,925
- Estimated Expense Ratio: 0.526% 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 |
|---|---|---|---|---|---|
| 2023 | $18,500 | $7,648 | $9,992 | — | — |
| 2022 | $19,138 | $8,372 | $10,766 | — | — |