Plan Snapshot
- Plan Sponsor: The Freedom Bank Of Virginia
- Sponsor EIN: 541968622
- Sponsor Address: 10555 MAIN STREET, SUITE 150, FAIRFAX, VA, 22030
- Plan Type: 401(k)
- Total Participants: 96
- Total Assets: $10.3M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- 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 | 96 | $10.3M | $312,031 | $982,829 |
| 2023 | 93 | $8.9M | $326,598 | $1.0M |
| 2022 | 108 | $7.2M | $323,417 | $976,501 |
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 |
|---|---|---|---|---|
| CROWE LLP | 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 | $48,737 | — | $48,237 | — | — |
| 2023 | $48,825 | $2,210 | $43,403 | — | — |
| 2022 | $25,869 | — | — | — | — |