Plan Snapshot
- Plan Sponsor: First Farmers Financial Corp.
- Sponsor EIN: 311248326
- Sponsor Address: PO BOX 690, CONVERSE, IN, 469190690
- Plan Type: 401(k)
- Total Participants: 351
- Total Assets: $40.2M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 351 | $40.2M | $1.4M | $1.7M |
| 2023 | 348 | $38.2M | $1.3M | $1.6M |
| 2022 | 335 | $34.4M | $1.3M | $1.6M |
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 |
|---|---|---|---|---|
| NORTHWEST BANK | TRUSTEE | $57,053 | — | $57,053 |
| EMPOWER ANNUITY INSURANCE COMPANY | RECORDKEEPER | $37,332 | — | $37,332 |
| RETIREMENT PLAN CONCEPTS & SERVICES | CONTRACT ADMIN | $19,373 | $10,000 | $29,373 |
| FORVIS MAZARS, LLP | AUDITOR | $18,200 | — | $18,200 |
| EMPOWER ADVISORY GROUP, LLC | INVESTMENT MANAGER | $12,080 | — | $12,080 |
| ASCIB LP | OTHER | $11,000 | — | $11,000 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FORVIS MAZARS, LLP — AUDITOR
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $165,038
- Estimated Expense Ratio: 0.411% 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 | $155,038 | $155,038 | — | — | — |
| 2023 | $134,981 | $134,981 | — | — | — |
| 2022 | $134,573 | — | — | — | $134,573 |