# Somerset Trust Company 401(k) Plan
Source: https://planprovider.pro/companies/somerset-trust-company-401k-plan

> Somerset Trust Company's 401(k) plan: 497 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](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:** $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|—|—|—|—|—|

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