Plan Snapshot
- Plan Sponsor: F&M Financial Corporation
- Sponsor EIN: 561439958
- Sponsor Address: 221 NORTH MAIN STREET, SALISBURY, NC, 28144
- Plan Type: 401(k)
- Total Participants: 139
- Total Assets: $21.8M
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 | 139 | $21.8M | $344,012 | $733,946 |
| 2023 | 131 | $19.2M | $353,192 | $728,249 |
| 2022 | 128 | $15.6M | $318,333 | $704,588 |
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 | $14,783 | — | $14,783 |
| ELLIOT DAVIS, PLLC | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FIDELITY INVESTMENTS INSTITUTIONAL — RECORDKEEPER
- ELLIOT DAVIS, PLLC — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $14,783
- Estimated Expense Ratio: 0.068% 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 | $16,880 | $2,097 | — | — | — |
| 2023 | $19,529 | — | — | — | — |
| 2022 | $25,666 | — | $18,930 | — | $6,736 |