Plan Snapshot
- Plan Sponsor: Kernodle Clinic, INC.
- Sponsor EIN: 560520990
- Sponsor Address: 1234 HUFFMAN MILL ROAD, BURLINGTON, NC, 272158700
- Plan Type: 401(k)
- Plan Number: 002
- Total Participants: 498
- Total Assets: $49.5M
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. |
|---|---|---|---|---|
| 2025 | 498 | $49.5M | $0 | $0 |
| 2024 | 287 | $47.0M | $662,619 | $986,643 |
| 2023 | 285 | $46.1M | $586,004 | $839,358 |
| 2022 | 276 | $43.1M | $534,426 | $775,536 |
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 |
|---|---|---|---|---|
| NFP RETIREMENT, INC. | Other Service Provider | $22,881 | — | $22,881 |
| PRINCIPAL LIFE INSURANCE COMPANY | Recordkeeper | $13,605 | — | $13,605 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $36,486
- Estimated Expense Ratio: 0.074% 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 |
|---|---|---|---|---|---|
| 2025 | $5,795,753 | $1,933 | $38,016 | — | — |
| 2024 | $37,837 | $35,937 | — | — | — |
| 2023 | $1,725 | — | $1,725 | — | — |
| 2022 | $1,950 | — | $1,950 | — | — |