Plan Snapshot
- Plan Sponsor: Novateur Education, INC.
- Sponsor EIN: 540799894
- Sponsor Address: 5555 GREENWICH RD. SUITE 600, VIRGINIA BEACH, VA, 23462
- Plan Type: 401(k)
- Total Participants: 2,192
- Total Assets: $124.1M
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 | 2,192 | $124.1M | $2.1M | $8.1M |
| 2023 | 2,015 | $109.0M | $1.7M | $7.5M |
| 2022 | 1,964 | $92.8M | $1.7M | $6.9M |
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 |
|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE COMPANY | NONE | $156,550 | — | $156,550 |
| EMPOWER ADVISORY GROUP, LLC | NONE | $29,265 | — | $29,265 |
| PBMARES, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- PBMARES, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $185,815
- Estimated Expense Ratio: 0.150% 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 | $185,815 | $29,265 | — | — | — |
| 2023 | $148,211 | $78,988 | — | — | — |
| 2022 | $63,792 | $13,960 | $49,532 | — | $300 |