Plan Snapshot
- Plan Sponsor: First National Corporation
- Sponsor EIN: 541232965
- Sponsor Address: 112 W. KING STREET, STRASBURG, VA, 22657
- Plan Type: 401(k)
- Total Participants: 309
- Total Assets: $36.3M
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 | 309 | $36.3M | $1.4M | $1.4M |
| 2023 | 223 | $26.6M | $1.2M | $1.3M |
| 2022 | 213 | $21.0M | $1.2M | $1.2M |
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 |
|---|---|---|---|---|
| VOYA RETIREMENT INSURANCE AND ANNUI | SERVICE PROVIDER | $114,002 | — | $114,002 |
| VBA BENEFITS CORPORATION | SERVICE PROVIDER | $71,291 | — | $71,291 |
| YOUNT, HYDE, BARBOUR, P.C. | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- YOUNT, HYDE, BARBOUR, P.C. — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $185,293
- Estimated Expense Ratio: 0.511% 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 | $186,833 | $74,367 | $111,716 | — | — |
| 2023 | $148,369 | $57,313 | $90,656 | — | — |
| 2022 | $87,253 | — | — | — | — |