Plan Snapshot
- Plan Sponsor: The Faison Center, INC.
- Sponsor EIN: 030387451
- Sponsor Address: 5311 MARKEL ROAD, RICHMOND, VA, 23230
- Plan Type: 403(b)
- Total Participants: 298
- Total Assets: $5.3M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: Yes
- Allows Roth Contributions: No
- 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 | 298 | $5.3M | $376,022 | $242,306 |
| 2023 | 263 | $4.4M | $366,596 | $230,804 |
| 2022 | 245 | $3.8M | $292,760 | $277,082 |
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 |
|---|---|---|---|---|
| KEITER | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 | $20,552 | — | $10,028 | — | — |
| 2023 | $46,443 | — | $46,443 | — | — |
| 2022 | $55,427 | — | $55,427 | — | — |