Plan Snapshot
- Plan Sponsor: Somerset Trust Company
- Sponsor EIN: 250807970
- Sponsor Address: 151 W. MAIN STREET, SOMERSET, PA, 15501
- Plan Type: 401(k)
- Total Participants: 497
- Total Assets: $42.1M
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 | 497 | $42.1M | $895,911 | $1.9M |
| 2023 | 484 | $37.6M | $614,712 | $1.7M |
| 2022 | 473 | $35.7M | $562,952 | $1.6M |
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 |
|---|---|---|---|---|
| CBIZ BENEFITS AND INSURANCE SERVICE | OTHER SERVICES | — | $56,568 | $56,568 |
| CBIZ INVESTMENT ADVISORY SERVICES | INVESTMENT ADVISORY | $233 | $37,042 | $37,275 |
| FORVIS MAZARS, LLP | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- FORVIS MAZARS, LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $93,843
- Estimated Expense Ratio: 0.223% 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 | $73,063 | — | — | — | — |
| 2023 | — | — | — | — | — |
| 2022 | — | — | — | — | — |