Plan Snapshot
- Plan Sponsor: First Ic Bank
- Sponsor EIN: 582437755
- Sponsor Address: 5593 BUFORD HWY, DORAVILLE, GA, 30340
- Plan Type: 401(k)
- Total Participants: 113
- Total Assets: $12.7M
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: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 113 | $12.7M | $422,352 | $840,753 |
| 2023 | 105 | $10.9M | $411,619 | $829,809 |
| 2022 | 110 | $8.5M | $381,823 | $815,792 |
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 |
|---|---|---|---|---|
| SEAY & WEISSINGER LLC | 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 | $20,450 | $20,054 | — | — | — |
| 2023 | $18,146 | — | $3,957 | — | — |
| 2022 | $18,229 | $11,287 | $6,942 | — | — |