Plan Snapshot
- Plan Sponsor: New Challenges, INC.
- Sponsor EIN: 411937082
- Sponsor Address: 4670 SLATER ROAD, EAGAN, MN, 55122
- Plan Type: 401(k)
- Total Participants: 198
- Total Assets: $5.2M
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 | 198 | $5.2M | $144,497 | $217,926 |
| 2023 | 202 | $4.6M | $123,654 | $199,535 |
| 2022 | 200 | $3.8M | $128,978 | $226,694 |
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 |
|---|---|---|---|---|
| BOYUM & BARENSCHEER, PLLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BOYUM & BARENSCHEER, PLLP — Auditor
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 | $50,807 | $34,138 | — | — | — |
| 2023 | $41,715 | $29,925 | — | $1,161 | — |
| 2022 | $39,340 | — | — | — | — |