Plan Snapshot
- Plan Sponsor: Farmers State Bank
- Sponsor EIN: 420109590
- Sponsor Address: 1240 8TH AVENUE, MARION, IA, 52302
- Plan Type: 401(k)
- Total Participants: 143
- Total Assets: $39.5M
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 | 143 | $39.5M | $579,998 | $779,092 |
| 2023 | 150 | $36.7M | $561,465 | $773,309 |
| 2022 | 157 | $32.7M | $746,665 | $805,027 |
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 |
|---|---|---|---|---|
| CLIFTONLARSONALLEN LLP | Auditor | $13,644 | — | $13,644 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- CLIFTONLARSONALLEN LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $13,644
- Estimated Expense Ratio: 0.035% 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 | $76,751 | $42,821 | $20,286 | $13,644 | — |
| 2023 | $68,306 | $37,211 | $19,939 | $11,156 | — |
| 2022 | $65,742 | $37,243 | $19,999 | — | $8,500 |