# The Challenge Machinery Company DB Plan
Source: https://planprovider.pro/companies/the-challenge-machinery-company-380411340-002

> The Challenge Machinery Company's DB plan: 4 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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|—|—|

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