Plan Snapshot
- Plan Sponsor: Legend Bank
- Sponsor EIN: 750150372
- Sponsor Address: 101 WEST TARRANT STREET, BOWIE, TX, 76230
- Plan Type: 401(k)
- Total Participants: 185
- Total Assets: $37.2M
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 | 185 | $37.2M | $707,943 | $1.0M |
| 2023 | 181 | $34.2M | $715,154 | $1.1M |
| 2022 | 165 | $30.0M | $591,988 | $854,999 |
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 |
|---|---|---|---|---|
| PAYNE & SMITH, LLC | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- PAYNE & SMITH, LLC — Auditor
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 | $132,891 | $15,000 | — | — | — |
| 2023 | $119,913 | $15,000 | $33,840 | — | — |
| 2022 | $113,239 | $15,000 | $98,239 | — | — |