Plan Snapshot
- Plan Sponsor: Bank Of Botetourt
- Sponsor EIN: 540132390
- Sponsor Address: PO BOX 339, BUCHANAN, VA, 240660339
- Plan Type: DB
- Total Participants: 121
- Total Assets: $5.6M
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 | 121 | $5.6M | $350,000 | $0 |
| 2023 | 124 | $5.4M | $300,000 | $0 |
| 2022 | 111 | $4.8M | $400,000 | $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 |
|---|---|---|---|---|
| SAGEVIEW CONSULTING GROUP | Actuary | $16,955 | — | $16,955 |
| VBA BENEFITS CORPORATION | Other Service Provider | $8,080 | — | $8,080 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $25,035
- Estimated Expense Ratio: 0.449% 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 | $24,798 | — | — | — | — |
| 2023 | $23,168 | — | — | — | — |
| 2022 | $23,372 | $460 | — | — | $22,912 |