Plan Snapshot
- Plan Sponsor: First Community Bankshares, INC.
- Sponsor EIN: 550694814
- Sponsor Address: PO BOX 989, BLUEFIELD, VA, 246050989
- Plan Type: 401(k)
- Total Participants: 596
- Total Assets: $80.7M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: Yes
- 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 | 596 | $80.7M | $1.7M | $2.3M |
| 2023 | 632 | $74.5M | $1.6M | $2.2M |
| 2022 | 653 | $68.1M | $2.4M | $1.9M |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | CONTRACT ADMINISTRATOR | $115,405 | — | $115,405 |
| FUND DIRECT ADVISORS INC. | INVESTMENT ADVISORY | $61,286 | — | $61,286 |
| CROWE LLP | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $176,691
- Estimated Expense Ratio: 0.219% 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 | $191,252 | $75,595 | $115,657 | — | — |
| 2023 | $160,067 | $46,985 | $113,082 | — | — |
| 2022 | $150,363 | — | $150,363 | — | — |