Plan Snapshot
- Plan Sponsor: First American Bank
- Sponsor EIN: 850020635
- Sponsor Address: 303 W. MAIN STREET, ARTESIA, NM, 882103719
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 200
- Total Assets: $179,138
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 200 | $179,138 | $1.5M | $721,554 |
| 2023 | 224 | $201,727 | $1.7M | $638,798 |
| 2022 | 186 | $252,282 | $1.7M | $562,347 |
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 |
|---|---|---|---|---|
| BLUECROSS BLUESHIELD OF NEW MEXICO | Other Service Provider | $125,569 | — | $125,569 |
| AON CORPORATION | Recordkeeper | $17,257 | — | $17,257 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- AON CORPORATION — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $142,826
- Estimated Expense Ratio: 79.730% 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 | $748,445 | — | $748,445 | — | — |
| 2023 | $611,118 | — | $611,118 | — | — |
| 2022 | $550,343 | — | — | — | $550,343 |