Plan Snapshot
- Plan Sponsor: Priority Automotive Group
- Sponsor EIN: 540273390
- Sponsor Address: 1800 GREENBRIER PKWY, CHESAPEAKE, VA, 233202606
- Plan Type: 401(k)
- Total Participants: 180
- Total Assets: $21.3M
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 | 180 | $21.3M | $37,732 | $667,910 |
| 2023 | 140 | $23.0M | $203,648 | $3.5M |
| 2022 | 1,611 | $42.2M | $387,922 | $6.3M |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | Recordkeeper | $104,471 | — | $104,471 |
| WELLS FARGO CLEARING SVCS (WF ADVS) | Investment Advisor | — | $40,081 | $40,081 |
| BDO USA, LLP | Investment Advisor | $22,966 | — | $22,966 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BDO USA, LLP — Investment Advisor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $167,518
- Estimated Expense Ratio: 0.787% 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 | $127,437 | $22,966 | $104,471 | — | — |
| 2023 | $246,499 | $27,941 | $218,558 | — | — |
| 2022 | $225,847 | $19,956 | $205,891 | — | — |