# Townebank 401(k) Plan
Source: https://planprovider.pro/companies/townebank-541910608-505

> Townebank's 401(k) plan: 2,544 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Townebank

- **Sponsor EIN:** 541910608

- **Sponsor Address:** 6001 HARBOUR VIEW BLVD, SUFFOLK, VA, 234352767

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

- **Plan Number:** 505

- **Total Participants:** 2,544

- **Total Assets:** $0

## Key Plan Design Features

- **Auto-Enrollment:** No

- **Auto-Escalation:** No

- **Allows Roth Contributions:** No

- **Participant Loans:** No

- **Participant-Directed Investments:** No

- **ERISA Section 404(c) Fiduciary Safe Harbor:** No

## Plan Financials by Year

| Year|Participants|Total Assets|Employer Contrib.|Employee Contrib.|

| 2025|2,544|$0|$0|$0|

| 2024|2,572|$0|$0|$0|

| 2023|2,603|$0|$0|$0|

| 2022|2,513|$0|$0|$0|

## 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|

| CIGNA HEALTH & LIFE INS. CO.|Recordkeeper|$1,409,231|—|$1,409,231|

| EVERNORTH BEHAVIORAL HEALTH INC|Recordkeeper|$46,540|—|$46,540|

## Plan Fees & Expenses

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

- **Total Service Provider Fees:** $1,455,771

### 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|

| 2025|—|—|—|—|—|

| 2024|—|—|—|—|—|

| 2023|—|—|—|—|—|

| 2022|—|—|—|—|—|

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