# Farmers State Bank 401(k) Plan
Source: https://planprovider.pro/companies/farmers-state-bank-401k-plan-001-9590

> Farmers State Bank's 401(k) plan: 143 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/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|

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[View full interactive plan profile on PlanProvider.Pro](https://planprovider.pro/companies/farmers-state-bank-401k-plan-001-9590)

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