Plan Snapshot
- Plan Sponsor: Old Point Financial Corporation
- Sponsor EIN: 541265373
- Sponsor Address: 1 WEST MELLEN STREET, HAMPTON, VA, 23663
- Plan Type: 401(k)
- Total Participants: 257
- Total Assets: $55.5M
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 | 257 | $55.5M | $768,153 | $1.6M |
| 2023 | 293 | $51.6M | $794,292 | $1.7M |
| 2022 | 283 | $44.4M | $666,747 | $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 |
|---|---|---|---|---|
| WALL EINHORN & CHERNITZER, P.C. | 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 | $43,047 | — | — | — | — |
| 2023 | $39,737 | — | — | — | — |
| 2022 | $30,780 | — | $30,780 | — | — |