Plan Snapshot
- Plan Sponsor: Mills Automotive Group, LLC
- Sponsor EIN: 320256715
- Sponsor Address: 10724 PINEVILLE RD., PINEVILLE, NC, 28134
- Plan Type: 401(k)
- Total Participants: 764
- Total Assets: $6.0M
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: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2023 | 764 | $6.0M | $0 | $777,828 |
| 2022 | 761 | $5.4M | $71,133 | $675,684 |
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 |
|---|---|---|---|---|
| PENSION PROFIT SHARING SERVICES INC | Recordkeeper | $63,208 | — | $63,208 |
| EMPOWER ANNUITY INS. CO. OF AMERICA | Recordkeeper | $62,938 | — | $62,938 |
| MERRILL LYNCH FENNER & SMITH INC, | Investment Advisor | $32,674 | — | $32,674 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $158,820
- Estimated Expense Ratio: 2.641% 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 | $72,635 | — | $72,635 | — | — |
| 2022 | $90,252 | — | $90,252 | — | — |