Plan Snapshot
- Plan Sponsor: The Challenge Machinery Company
- Sponsor EIN: 380411340
- Sponsor Address: 6125 NORTON CENTER DRIVE, MUSKEGON, MI, 494416081
- Plan Type: DB
- Plan Number: 002
- Total Participants: 4
- Total Assets: $5.0M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 4 | $5.0M | $60,882 | $0 |
| 2023 | 5 | $6.9M | $198,017 | $0 |
| 2022 | 6 | $6.9M | $187,925 | $0 |
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 | $31,716 | — | $31,716 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $31,716
- Estimated Expense Ratio: 0.629% 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 | $38,674 | — | $31,716 | — | — |
| 2023 | $33,954 | — | $33,954 | — | — |
| 2022 | $96,298 | $2,204 | $22,419 | — | — |