Plan Snapshot
- Plan Sponsor: Western Commerce Bank
- Sponsor EIN: 850158799
- Sponsor Address: 127 S. CANYON, CARLSBAD, NM, 882211358
- Plan Type: 401(k)
- Plan Number: 501
- Total Participants: 69
- 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. |
|---|---|---|---|---|
| 2024 | 69 | $0 | $942,081 | $230,366 |
| 2023 | 69 | $0 | $835,512 | $204,257 |
| 2022 | 47 | $0 | $570,987 | $175,246 |
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 |
|---|---|---|---|---|
| IMS MARKETING, INC. | Recordkeeper | $32,090 | — | $32,090 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $32,090
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 | $1,284,118 | — | — | — | — |
| 2023 | $1,451,966 | — | — | — | — |
| 2022 | $747,668 | — | — | — | — |