# First National Corporation 401(k) Plan
Source: https://planprovider.pro/companies/first-national-corporation-401k-plan-002

> First National Corporation's 401(k) plan: 309 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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.](https://planprovider.pro/provider/yount-hyde-and-barbour-pc) — 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|—|—|—|—|

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