Plan Snapshot
- Plan Sponsor: Farmers National Bank
- Sponsor EIN: 610189296
- Sponsor Address: 304 W MAIN ST, DANVILLE, KY, 40422
- Plan Type: 401(k)
- Total Participants: 194
- Total Assets: $27.6M
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 | 194 | $27.6M | $873,554 | $1.1M |
| 2023 | 181 | $23.2M | $825,114 | $963,820 |
| 2022 | 189 | $19.8M | $812,731 | $925,448 |
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 |
|---|---|---|---|---|
| CHERRY BEKAERT LLP | 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 | $47,797 | $5,566 | — | — | — |
| 2023 | $40,984 | — | — | — | — |
| 2022 | $37,742 | $3,429 | $34,313 | — | — |