Plan Snapshot
- Plan Sponsor: Newport News Shipbuilding Employees Credit Union, INC.
- Sponsor EIN: 540314180
- Sponsor Address: ONE BAYPORT WAY, NEWPORT NEWS, VA, 23606
- Plan Type: 401(k)
- Total Participants: 458
- Total Assets: $48.4M
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. |
|---|---|---|---|---|
| 2024 | 458 | $48.4M | $855,125 | $2.2M |
| 2023 | 430 | $42.2M | $740,305 | $1.9M |
| 2022 | 417 | $34.4M | $745,980 | $1.9M |
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 |
|---|---|---|---|---|
| ASCENSUS LLC | NONE | $21,636 | $41,146 | $62,782 |
| DOEREN MAYHEW ASSURANCE | NONE | $12,500 | — | $12,500 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- DOEREN MAYHEW ASSURANCE — NONE
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $75,282
- Estimated Expense Ratio: 0.156% 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 | $37,748 | $3,612 | $21,636 | $12,500 | — |
| 2023 | $10,100 | — | $10,100 | — | — |
| 2022 | $18,800 | — | $8,200 | — | $10,600 |