Plan Snapshot
- Plan Sponsor: First Community Bankshares, INC.
- Sponsor EIN: 550694814
- Sponsor Address: PO BOX 989, BLUEFIELD, VA, 24605
- Plan Type: Health & Welfare
- Plan Number: 504
- Total Participants: 473
- Total Assets: $364,507
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 | 473 | $364,507 | $3.3M | $1.7M |
| 2023 | 501 | $690,972 | $3.8M | $1.8M |
| 2022 | 495 | $562,470 | $3.7M | $2.0M |
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 |
|---|---|---|---|---|
| HEALTHGRAM, INC | Other Service Provider | $208,935 | — | $208,935 |
| CIGNA CORPORATION | Other Service Provider | $79,734 | — | $79,734 |
| CAREOPERATIVE, LLC | Other Service Provider | $8,273 | — | $8,273 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $296,942
- Estimated Expense Ratio: 81.464% 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 | $300,403 | — | $296,942 | — | — |
| 2023 | $303,276 | — | $275,998 | — | — |
| 2022 | $287,315 | — | — | — | — |