# Farmers National Bank Of Canfield 401(k) Plan
Source: https://planprovider.pro/companies/farmers-national-bank-of-canfield-401k-plan

> Farmers National Bank Of Canfield's 401(k) plan: 529 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Farmers National Bank Of Canfield

- **Sponsor EIN:** 340214400

- **Sponsor Address:** 20 S BROAD ST, CANFIELD, OH, 444061401

- **Plan Type:** 401(k)

- **Total Participants:** 529

- **Total Assets:** $60.6M

## 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|529|$60.6M|$1.1M|$3.3M|

| 2023|533|$59.8M|$1.0M|$3.1M|

| 2022|454|$50.7M|$870,726|$2.6M|

## 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|

| EMPOWER ANNUITY INSURANCE COMPANY|RECORDKEEPER|$72,895|—|$72,895|

| NATIONAL ASSOCIATES INC|CONTRACT ADMIN|$28,652|—|$28,652|

| EMPOWER ADVISORY GROUP|INVESTMENT MGMT|$14,689|—|$14,689|

| CROWE LLP|Auditor|—|—|$0|

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $116,236

- **Estimated Expense Ratio:** 0.192% 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|$111,733|—|$111,733|—|—|

| 2023|$89,306|—|$89,306|—|—|

| 2022|$82,716|—|$82,716|—|—|

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