Plan Snapshot
- Plan Sponsor: First Resource Bank
- Sponsor EIN: 390585074
- Sponsor Address: 1946 WASHINGTON AVE SOUTH, STILLWATER, MN, 55082
- Plan Type: 401(k)
- Total Participants: 62
- Total Assets: $10.3M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 62 | $10.3M | $189,955 | $421,344 |
| 2023 | 56 | $9.5M | $192,312 | $455,719 |
| 2022 | 64 | $7.8M | $154,472 | $349,950 |
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 |
|---|---|---|---|---|
| JOHN HANCOCK LIFE INSURANCE CO (USA | Recordkeeper | $39,157 | — | $39,157 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- JOHN HANCOCK LIFE INSURANCE CO (USA — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $39,157
- Estimated Expense Ratio: 0.381% 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 | $557,466 | — | $46,302 | — | — |
| 2023 | $241,064 | — | $37,001 | — | — |
| 2022 | $610,457 | — | $27,232 | — | — |