# Lumbee Guaranty Bank DB Plan
Source: https://planprovider.pro/companies/lumbee-guaranty-bank-plan-001

> Lumbee Guaranty Bank's DB plan: 26 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Lumbee Guaranty Bank

- **Sponsor EIN:** 560990387

- **Sponsor Address:** 403 E. THIRD STREET, PEMBROKE, NC, 28372

- **Plan Type:** DB

- **Total Participants:** 26

- **Total Assets:** $7.3M

## Key Plan Design Features

- **Auto-Enrollment:** No

- **Auto-Escalation:** No

- **Allows Roth Contributions:** No

- **Participant Loans:** No

- **Participant-Directed Investments:** No

- **ERISA Section 404(c) Fiduciary Safe Harbor:** No

## Plan Financials by Year

| Year|Participants|Total Assets|Employer Contrib.|Employee Contrib.|

| 2024|26|$7.3M|$126,000|$0|

| 2023|37|$6.7M|$220,000|$0|

| 2022|44|$6.1M|$0|$0|

## 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|

| AMERICAN TRUST|NONE|$24,218|—|$24,218|

| FUND DIRECT ADVISOR'S, INC.|NONE|$16,633|—|$16,633|

| MID-ATLANTIC TRUST COMPANY|NONE|$7,483|—|$7,483|

| ELLIOT DAVIS, PLLC|Auditor|—|—|$0|

### Verified Provider Profiles

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

- [MID-ATLANTIC TRUST COMPANY](https://planprovider.pro/provider/ktrade) — NONE

- [ELLIOT DAVIS, PLLC](https://planprovider.pro/provider/elliott-davis-llc) — Auditor

## Plan Fees & Expenses

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

- **Total Service Provider Fees:** $48,334

- **Estimated Expense Ratio:** 0.665% 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|$48,333|$16,633|—|—|—|

| 2023|$47,222|$14,560|—|—|—|

| 2022|$19,226|$11,917|—|—|$7,309|

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