401k Record

Employers › Choice Financial Group

Choice Financial Group 401(k)

Administrative expenses excluding investment management, per participant · Choice Financial Group, LLC 401(k) Plan · plan year 2024

$49.29

Higher than 31% of the 14,713 plans $1 to 10M that report it.

Source

= $14,394 / 292
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250910081208NAL0035211920001, received 2025-09-10
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250910081208NAL0035211920001, received 2025-09-10

10th: $13.66median $103.3390th: $302.77

Percentiles compare this plan with the Schedule H plans $1 to 10M in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-09-10.

Cost and contributions

Recordkeeping fees per participant

not reported

Not reported on this filing.

Administrative expenses per participant

$49.29

10th: $19.42median $150.2790th: $370.75

Higher than 22% of the 15,210 plans $1 to 10M that report it.

Source

= $14,394 / 292
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250910081208NAL0035211920001, received 2025-09-10
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250910081208NAL0035211920001, received 2025-09-10

Administrative expenses as a share of assets

0.210%

10th: 0.069%median 0.519%90th: 1.146%

Higher than 24% of the 15,243 plans $1 to 10M that report it.

Source

= $14,394 / $6,869,119
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250910081208NAL0035211920001, received 2025-09-10
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250910081208NAL0035211920001, received 2025-09-10

Employer contributions per participant

$748

10th: $357median $1,32390th: $2,861

Higher than 26% of the 13,342 plans $1 to 10M that report it.

Source

= $218,491 / 292
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250910081208NAL0035211920001, received 2025-09-10
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250910081208NAL0035211920001, received 2025-09-10

Employer share of total contributions

18.0%

10th: 11.9%median 28.9%90th: 43.6%

Higher than 21% of the 13,370 plans $1 to 10M that report it.

Source

= $218,491 / $1,216,059
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250910081208NAL0035211920001, received 2025-09-10
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250910081208NAL0035211920001, received 2025-09-10

Plan terms, as stated in Choice Financial Group, LLC's SEC filings

Plan terms are not published in public filings.

Plan features

2S pre-approved plan document · 2E profit-sharing · 3D IRS pre-approved plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2F ERISA 404(c) plan · 2T default investment (QDIA) · 3F · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20250910081208NAL0035211920001, received 2025-09-10

Full record, Choice Financial Group, LLC 401(k) Plan

FieldValueSource
Plan sponsorCHOICE FINANCIAL GROUP, LLCForm 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250910081208NAL0035211920001, received 2025-09-10
Plan nameCHOICE FINANCIAL GROUP, LLC 401(K) PLANForm 5500, line 1a; PLAN_NAME pos 16; filing 20250910081208NAL0035211920001, received 2025-09-10
Sponsor EIN / plan number82-1650902 / 001Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250910081208NAL0035211920001, received 2025-09-10
Plan typesingle-employerForm 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250910081208NAL0035211920001, received 2025-09-10
Sponsor locationVIRGINIA BEACH, VAForm 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250910081208NAL0035211920001, received 2025-09-10
Industry (business code)524210, Finance and insuranceForm 5500, line 2d; BUSINESS_CODE pos 46; filing 20250910081208NAL0035211920001, received 2025-09-10
Plan year2024-01-01 to 2024-12-31Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20250910081208NAL0035211920001, received 2025-09-10
Filing received2025-09-10Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250910081208NAL0035211920001, received 2025-09-10
Final filingnoForm 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250910081208NAL0035211920001, received 2025-09-10
Amended filingnoForm 5500, Part I line B; AMENDED_IND pos 7; filing 20250910081208NAL0035211920001, received 2025-09-10
Participants, beginning of year278Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250910081208NAL0035211920001, received 2025-09-10
Active participants291Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250910081208NAL0035211920001, received 2025-09-10
Participants, end of year355Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250910081208NAL0035211920001, received 2025-09-10
Participants with an account balance292Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250910081208NAL0035211920001, received 2025-09-10
Total assets, beginning of year$5,065,248Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250910081208NAL0035211920001, received 2025-09-10
Total assets, end of year$6,869,119Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250910081208NAL0035211920001, received 2025-09-10
Net assets, end of year$6,869,119Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250910081208NAL0035211920001, received 2025-09-10
Total income$2,146,439Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250910081208NAL0035211920001, received 2025-09-10
Net income$1,803,871Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250910081208NAL0035211920001, received 2025-09-10
Employer contributions$218,491Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250910081208NAL0035211920001, received 2025-09-10
Participant contributions$898,210Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250910081208NAL0035211920001, received 2025-09-10
Other contributions (incl. rollovers)$99,358Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20250910081208NAL0035211920001, received 2025-09-10
Total contributions$1,216,059Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250910081208NAL0035211920001, received 2025-09-10
Benefit payments$326,459Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250910081208NAL0035211920001, received 2025-09-10
Total expenses (incl. benefit payments)$342,568Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250910081208NAL0035211920001, received 2025-09-10
Total administrative expenses$14,394Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250910081208NAL0035211920001, received 2025-09-10
Contract administrator fees$14,394Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20250910081208NAL0035211920001, received 2025-09-10
Administrative expenses excluding investment management$14,394derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250910081208NAL0035211920001, received 2025-09-10
Held in mutual funds$6,659,387Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20250910081208NAL0035211920001, received 2025-09-10
Independent auditorWALL EINHORN & CHERNITZERSchedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250910081208NAL0035211920001, received 2025-09-10

Position = column in the DOL layout for form year 2024. Filing 20250910081208NAL0035211920001, received 2025-09-10.

Service providers paid directly by the plan

ProviderRelationshipService codesDirect compensationIndirect
THE VANGUARD GROUP, INC.recordkeeperNONE 99 Other fees; 15 Recordkeeping and information management; 64 Recordkeeping fees; 37 Participant loan processing; 50 Direct payment from the plan; 52 Investment management fees paid indirectly by plan; 68 Soft dollars commissions $14,394yes

Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20250910081208NAL0035211920001, received 2025-09-10.

What changed since the 2023 plan year

Figure20232024Change
Total assets$5,065,248$6,869,11935.6%
Participants with a balance23529224.3%
Administrative expenses$11,142$14,39429.2%
Recordkeeping fees per participantnot reportednot reported
Employer contributions$178,849$218,49122.2%

Prior filing 20241014082814NAL0014647747001, received 2024-10-14; the plan years are contiguous.

Alerts, claims and corrections

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Sponsor name as filed: CHOICE FINANCIAL GROUP, LLC; SEC registrant: Choice Financial Group, LLC (CIK 1857130, matched by EIN).