Plan Snapshot
- Plan Sponsor: Magnolia Bank
- Sponsor EIN: 610126230
- Sponsor Address: 794 OLD ELIZABETHTOWN ROAD, HODGENVILLE, KY, 42748
- Plan Type: 401(k)
- Total Participants: 232
- Total Assets: $16.5M
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 | 232 | $16.5M | $557,509 | $1.5M |
| 2023 | 203 | $13.7M | $396,451 | $1.1M |
| 2022 | 214 | $11.7M | $432,045 | $1.5M |
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 |
|---|---|---|---|---|
| CARR, RIGGS, & INGRAM | Auditor | — | — | $0 |
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 | $15,312 | $8,802 | $3,001 | — | — |
| 2023 | $20,586 | $6,556 | $6,648 | — | — |
| 2022 | $19,685 | — | — | — | — |