Plan Snapshot
- Plan Sponsor: First & Farmers National Bank, INC.
- Sponsor EIN: 261180737
- Sponsor Address: PO BOX 820, SOMERSET, KY, 42502
- Plan Type: 401(k)
- Total Participants: 118
- Total Assets: $13.5M
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 | 118 | $13.5M | $309,851 | $457,140 |
| 2023 | 114 | $12.1M | $284,184 | $426,658 |
| 2022 | 129 | $10.7M | $285,096 | $426,314 |
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 |
|---|---|---|---|---|
| BARDON & BRACKMAN CPA'S | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 | $55,083 | $37,548 | — | — | — |
| 2023 | $48,902 | $10,753 | — | — | — |
| 2022 | $69,821 | — | — | — | — |