# Herring Bank 401(k) Plan
Source: https://planprovider.pro/companies/herring-bank-401k-plan

> Herring Bank's 401(k) plan: 154 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Herring Bank

- **Sponsor EIN:** 750330569

- **Sponsor Address:** PO BOX 50488, AMARILLO, TX, 79159

- **Plan Type:** 401(k)

- **Total Participants:** 154

- **Total Assets:** $6.8M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** Yes

- **Participant Loans:** Yes

- **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|154|$6.8M|$225,025|$531,919|

| 2023|142|$6.5M|$184,447|$435,421|

| 2022|129|$6.4M|$221,005|$558,822|

## 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|

| MML INVESTORS SERVICES, LLC|FINANCIAL ADVSR|—|$30,883|$30,883|

| NATIONWIDE|INVESTMENT ADVISORY|$23,600|$6,441|$30,041|

| MEEDER|INV MANAGER|$13,687|—|$13,687|

| INWEST RETIREMENT SOLUTIONS|TPA|$3,844|$8,286|$12,130|

| JOHNSON & SHELDON PLC|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [MML INVESTORS SERVICES, LLC](https://planprovider.pro/provider/mml-investors-services-llc) — FINANCIAL ADVSR

- [NATIONWIDE](https://planprovider.pro/provider/nationwide-mutual-insurance-company) — INVESTMENT ADVISORY

- [JOHNSON & SHELDON PLC](https://planprovider.pro/provider/johnson-and-sheldon-pllc) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $86,741

- **Estimated Expense Ratio:** 1.272% 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|$86,739|$44,570|$12,129|—|—|

| 2023|$74,398|$70,554|$3,844|—|—|

| 2022|$77,397|$72,731|$4,666|—|—|

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