Plan Snapshot
- Plan Sponsor: Mississippi Bankers Association
- Sponsor EIN: 640204860
- Sponsor Address: P.O. BOX 37, JACKSON, MS, 39205
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 2,710
- Total Assets: $14.7M
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 | 2,710 | $14.7M | $20.5M | $6.9M |
| 2023 | 2,483 | $14.6M | $18.5M | $5.7M |
| 2022 | 2,520 | $15.5M | $18.4M | $6.2M |
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 |
|---|---|---|---|---|
| BLUE CROSS BLUE SHEILD | Other Service Provider | $3,661,083 | — | $3,661,083 |
| MS BANKERS ASSOCIATION | Other Service Provider | $204,700 | — | $204,700 |
| IOWA BANKERS INSURANCE SERVICE | Other Service Provider | $36,000 | — | $36,000 |
| HARPER RAINS KINIGHT & C0 | Auditor | $31,907 | — | $31,907 |
| CORBIN BIGGS | Other Service Provider | $9,601 | — | $9,601 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $3,943,291
- Estimated Expense Ratio: 26.763% 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 | $4,115,251 | — | $3,661,083 | — | — |
| 2023 | $3,657,769 | — | $3,249,645 | — | — |
| 2022 | $3,609,915 | — | $3,262,966 | — | — |