Plan Snapshot
- Plan Sponsor: Strongwell Corporation
- Sponsor EIN: 541670655
- Sponsor Address: 400 COMMONWEALTH AVENUE, BRISTOL, VA, 24201
- Plan Type: 401(k)
- Total Participants: 328
- Total Assets: $86.7M
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 | 328 | $86.7M | $1.9M | $1.1M |
| 2023 | 318 | $83.4M | $1.6M | $1.1M |
| 2022 | 313 | $78.8M | $1.6M | $950,117 |
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 |
|---|---|---|---|---|
| MVP PLAN ADMINISTRATORS, INC. | THIRD PARTY ADMINISTRATOR | $58,386 | — | $58,386 |
| CHARLES SCHWAB TRUST BANK | CUSTODIAN | $23,545 | — | $23,545 |
| BROWN, EDWARDS & COMPANY | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- CHARLES SCHWAB TRUST BANK — CUSTODIAN
- BROWN, EDWARDS & COMPANY — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $81,931
- Estimated Expense Ratio: 0.094% 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 | $81,932 | — | — | — | — |
| 2023 | $76,891 | — | $53,835 | — | — |
| 2022 | $96,422 | — | $94,937 | — | — |