# Peoples Bank 401(k) Plan
Source: https://planprovider.pro/companies/peoples-bank-401k-plan-001-4890

> Peoples Bank's 401(k) plan: 313 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Peoples Bank

- **Sponsor EIN:** 560354890

- **Sponsor Address:** P O BOX 467, NEWTON, NC, 286580467

- **Plan Type:** 401(k)

- **Total Participants:** 313

- **Total Assets:** $36.6M

## 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|313|$36.6M|$794,082|$1.5M|

| 2023|292|$33.0M|$740,338|$1.4M|

| 2022|301|$29.0M|$723,739|$1.3M|

## 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|

| WIPFLI LLP|TPA|$27,835|—|$27,835|

| FORVIS MAZARS, LLP|Auditor|—|—|$0|

### Verified Provider Profiles

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

- [WIPFLI LLP](https://planprovider.pro/provider/wipfli-llp) — TPA

- [FORVIS MAZARS, LLP](https://planprovider.pro/provider/forvis-mazars-llp) — Auditor

## Plan Fees & Expenses

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

- **Total Service Provider Fees:** $27,835

- **Estimated Expense Ratio:** 0.076% 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|$32,995|—|$32,995|—|—|

| 2023|$74,570|—|$74,570|—|—|

| 2022|$26,345|—|$26,345|—|—|

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