Plan Snapshot
- Plan Sponsor: Worth Higgins & Associates, INC.
- Sponsor EIN: 540880197
- Sponsor Address: 8770 PARK CENTRAL DR, RICHMOND, VA, 232271146
- Plan Type: 401(k)
- Total Participants: 153
- Total Assets: $16.0M
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 | 153 | $16.0M | $55,035 | $903,033 |
| 2023 | 163 | $14.4M | $83,471 | $854,026 |
| 2022 | 173 | $11.8M | $50,784 | $742,293 |
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 | CONTRACT ADMINISTRATOR | $53,869 | — | $53,869 |
| CETERA INVESTMENT ADVISERS LLC | INVESTMENT ADVISORY | — | $26,473 | $26,473 |
| ADAMS, JENKINS & CHEATHEM | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $80,342
- Estimated Expense Ratio: 0.504% 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 | $53,870 | — | $53,870 | — | — |
| 2023 | $46,076 | — | $46,076 | — | — |
| 2022 | $54,807 | — | $54,807 | — | — |