Plan Snapshot
- Plan Sponsor: Citizens Bank
- Sponsor EIN: 850021005
- Sponsor Address: 500 W BROADWAY, FARMINGTON, NM, 874015986
- Plan Type: 401(k)
- Total Participants: 84
- Total Assets: $16.4M
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 | 84 | $16.4M | $174,223 | $342,923 |
| 2023 | 84 | $14.5M | $169,104 | $335,141 |
| 2022 | 89 | $12.6M | $156,969 | $338,364 |
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 |
|---|---|---|---|---|
| FORTNER BAYENS, PC | 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 | $70,383 | $66,250 | $4,133 | — | — |
| 2023 | $59,610 | $55,986 | $3,624 | — | — |
| 2022 | $61,268 | $56,173 | $5,095 | — | — |