Retirement plan

F & M FINANCIAL CORPORATION 401(K) PLAN

Name: F & M FINANCIAL CORPORATION - F & M FINANCIAL CORPORATION 401(K) PLAN (2020) Form 5500
Creator: F & M FINANCIAL CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, F & M FINANCIAL CORPORATION 401(K) PLAN, F & M FINANCIAL CORPORATION

F & M FINANCIAL CORPORATIONEIN 56-1439958Plan #002PY 2020

221 NORTH MAIN STREET - SALISBURY, NC 28144704-633-1772

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$18.2M

+12.2% from 2019

Total participants

139

-4.8% from 2019

Average account balance

$146,870

+9.5% from 2019

Annual return

14.51%

+14.51 pp from 2019

Benchmarks

See 2,211 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,211 peers

Snapshot2020

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$21.75M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$164K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

133

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

84.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.08M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+16.02%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$127

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Top 2 by compensation

Provider	Service type	Compensation
NEWPORT GROUP, INC.2+ years Service code 13 · EIN 27-2037969	Contract Administrator	$13,968
NEWPORT GROUP, INC.2+ years Filed as: NEWPORT TRUST COMPANY Service code 21 · EIN 42-1558009	Bank Trustee	$6,143

Plan features & details

Pension benefit codes2E2F2G2J2T3D3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$20K

$166 / participant

Contract admin$14K69.5%
Other / not subdivided$6K30.5%

% of EOY assets

0.110%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: ELLIOT DAVIS, PLLC
Auditor EIN: 570381582
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$146,870

$136,307+7.7%

$177,848-17.4%

$73,497+99.8%

Participation rate

87.6%

86.1%+1.5pp

87.7%-0.1pp

70.7%+16.9pp

Annual return

14.51%

18.68%-4.2pp

48.33%-33.8pp

28.51%-14.0pp

Employer contribution / active EE

$2,276

$3,712-38.7%

$5,919-61.5%

$2,270+0.3%

Participant deferral / active EE

$5,122

$5,829-12.1%

$7,714-33.6%

$3,740+37.0%

Admin fee / account holder

$162

$596-72.8%

$12,431-98.7%

$513-68.4%

Provider

Service type

Compensation

NEWPORT GROUP, INC.2+ years

Service code 13 · EIN 27-2037969

Contract Administrator

$13,968

NEWPORT GROUP, INC.2+ years

Filed as: NEWPORT TRUST COMPANY

Service code 21 · EIN 42-1558009

Bank Trustee

$6,143

F & M FINANCIAL CORPORATION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

F & M FINANCIAL CORPORATION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion