Plan Snapshot
- Plan Sponsor: Townebank
- Sponsor EIN: 541910608
- Sponsor Address: 6001 HARBOUR VIEW BLVD, SUFFOLK, VA, 234352767
- Plan Type: 401(k)
- Total Participants: 2,649
- Total Assets: $320.2M
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 | 2,649 | $320.2M | $5.9M | $18.2M |
| 2023 | 2,679 | $283.1M | $5.7M | $17.6M |
| 2022 | 2,629 | $244.7M | $5.6M | $17.1M |
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 |
|---|---|---|---|---|
| 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: $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 | $416,906 | $65,945 | $350,961 | — | — |
| 2023 | $380,129 | $64,018 | $316,111 | — | — |
| 2022 | $369,610 | $62,155 | $307,455 | — | — |