Plan Snapshot
- Plan Sponsor: Monroe Hardware Company
- Sponsor EIN: 560325288
- Sponsor Address: 101 NORTH SUTHERLAND AVENUE, MONROE, NC, 28110
- Plan Type: 401(k)
- Total Participants: 67
- Total Assets: $3.7M
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 | 67 | $3.7M | $49,080 | $142,999 |
| 2023 | 93 | $4.6M | $55,040 | $160,388 |
| 2022 | 71 | $4.9M | $53,665 | $178,084 |
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 |
|---|---|---|---|---|
| CHERRY BEKAERT LLP | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 | $1,774,062 | — | $6,183 | — | — |
| 2023 | $1,308,773 | — | $6,158 | — | — |
| 2022 | $8,824 | $102 | — | — | — |