Plan Snapshot
- Plan Sponsor: Lake Norman Motor Sales LLC
- Sponsor EIN: 621850437
- Sponsor Address: 13429 STATESVILLE RD, HUNTERSVILLE, NC, 28078
- Plan Type: 401(k)
- Plan Number: 001
- Total Participants: 234
- Total Assets: $2.6M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- 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 | 234 | $2.6M | $0 | $363,479 |
| 2022 | 223 | $2.0M | $1,112 | $310,961 |
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 |
|---|---|---|---|---|
| AMERIPRISE FNCL SERV LLC | Investment Advisor | — | $9,192 | $9,192 |
| AMERICAN UNITED LIFE INSURANCE CO | Other Service Provider | $2,423 | $6,199 | $8,622 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- AMERIPRISE FNCL SERV LLC — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $17,814
- Estimated Expense Ratio: 0.693% 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 | $2,423 | — | $2,423 | — | — |
| 2022 | $2,199 | — | $2,199 | — | — |