Plan Snapshot
- Plan Sponsor: Farmers & Merchants Bank
- Sponsor EIN: 540208040
- Sponsor Address: 205 SOUTH MAIN STREET, TIMBERVILLE, VA, 228530606
- Plan Type: 401(k)
- Total Participants: 180
- Total Assets: $11.1M
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 | 180 | $11.1M | $410,424 | $916,597 |
| 2023 | 206 | $12.6M | $478,026 | $1.1M |
| 2022 | 201 | $10.5M | $472,536 | $1.1M |
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 |
|---|---|---|---|---|
| VOYA RETIREMENT INSURANCE & ANNUITY | Other Service Provider | $77,357 | — | $77,357 |
| VBA BENEFITS CORPORATION | Other Service Provider | $27,670 | — | $27,670 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $105,027
- Estimated Expense Ratio: 0.947% 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 | $77,357 | $27,791 | $48,916 | — | — |
| 2023 | $76,047 | $28,298 | $47,299 | — | — |
| 2022 | $72,840 | — | — | — | — |