Plan Snapshot
- Plan Sponsor: Mcgill Associates, P.A.
- Sponsor EIN: 561396980
- Sponsor Address: 55 BROAD STREET, ASHEVILLE, NC, 28801
- Plan Type: 401(k)
- Total Participants: 182
- Total Assets: $20.7M
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 | 182 | $20.7M | $408,740 | $1.2M |
| 2023 | 170 | $18.4M | $342,695 | $1.0M |
| 2022 | 141 | $15.1M | $320,052 | $918,252 |
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 |
|---|---|---|---|---|
| MORGAN STANLEY GLOBAL | ADVISOR | $49,304 | — | $49,304 |
| NEWPORT GROUP, INC. | RECORDKEEPER | $29,503 | — | $29,503 |
| DMJPS, PLLC | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $78,807
- Estimated Expense Ratio: 0.381% 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 |
|---|---|---|---|---|---|
| 2024 | $78,806 | $49,304 | $29,502 | — | — |
| 2023 | $76,824 | $49,976 | $23,715 | — | — |
| 2022 | $73,193 | $51,819 | $14,929 | — | $6,445 |