Plan Snapshot
- Plan Sponsor: Carter Bank & Trust
- Sponsor EIN: 205539935
- Sponsor Address: 1300 KINGS MOUNTAIN ROAD, MARTINSVILLE, VA, 24112
- Plan Type: 401(k)
- Total Participants: 689
- Total Assets: $51.0M
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 | 689 | $51.0M | $2.0M | $3.0M |
| 2023 | 633 | $46.7M | $1.9M | $2.7M |
| 2022 | 608 | $40.4M | $2.1M | $2.4M |
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 |
|---|---|---|---|---|
| FIDELITY INVESTMENTS INSTITUTIONAL | RECORDKEEPER | $91,635 | — | $91,635 |
| STRATEGIC ADVISORS, INC. | ADVISOR | $10,507 | — | $10,507 |
| DAVIDSON, DOYLE & HILTON, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FIDELITY INVESTMENTS INSTITUTIONAL — RECORDKEEPER
- STRATEGIC ADVISORS, INC. — ADVISOR
- DAVIDSON, DOYLE & HILTON, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $102,142
- Estimated Expense Ratio: 0.200% 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 | $102,142 | $10,507 | — | — | — |
| 2023 | $86,752 | $8,340 | — | — | — |
| 2022 | $98,605 | $6,952 | — | — | — |