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FIRST STATE BANK OF SAUK CENTRE EMPLOYEE'S 401(K) PROFIT SHARING PLAN & TRUST 401k Plan overview

Plan NameFIRST STATE BANK OF SAUK CENTRE EMPLOYEE'S 401(K) PROFIT SHARING PLAN & TRUST
Plan identification number 001

FIRST STATE BANK OF SAUK CENTRE EMPLOYEE'S 401(K) PROFIT SHARING PLAN & TRUST Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

FIRST STATE BANK OF SAUK CENTRE has sponsored the creation of one or more 401k plans.

Company Name:FIRST STATE BANK OF SAUK CENTRE
Employer identification number (EIN):410257200
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FIRST STATE BANK OF SAUK CENTRE EMPLOYEE'S 401(K) PROFIT SHARING PLAN & TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01MICHAEL BICK2024-10-02
0012022-01-01MICHAEL T. BICK2023-06-29
0012021-01-01MICHAEL T. BICK2022-09-19
0012020-01-01MICHAEL T. BICK2021-09-27
0012019-01-01MICHAEL T. BICK2020-07-24
0012018-01-01MICHAEL T. BICK2019-07-02
0012017-01-01MICHAEL T. BICK2018-07-02
0012016-01-01MICHAEL T. BICK2017-07-26
0012015-01-01LOREN BESTE2016-07-05
0012014-01-01LOREN BESTE2015-04-22
0012013-01-01LOREN BESTE2014-07-18
0012012-01-01LOREN BESTE2013-07-08
0012011-01-01LOREN BESTE2012-07-31
0012009-01-01ANN LEE

Financial Data on FIRST STATE BANK OF SAUK CENTRE EMPLOYEE'S 401(K) PROFIT SHARING PLAN & TRUST

Measure Date Value
2025 : FIRST STATE BANK OF SAUK CENTRE EMPLOYEE'S 401(K) PROFIT SHARING PLAN & TRUST 2025 401k financial data
Total expenses incurred by plan in this plan year2025-10-151560542
Net assets as of the end of the plan year2025-10-151223919
Total assets as of the beginning of the plan year2025-10-152372777
Value of plan covered by a fidelity bond2025-10-15500000
Participant contributions to plan in this plan year2025-10-15105321
Other income to plan in this plan year2025-10-15164663
Plan net income in this plan year2025-10-15-1148858
Net assets as of the end of the plan year2025-10-151223919
Net assets as of the beginning of the plan year2025-10-152372777
Employer contributions to plan in this plan year2025-10-15141700
Fees paid to broker by Benefit Provider2025-10-1599
Expensese paid to adminstrative service provicers from plan in this plan year2025-10-15650
2024 : FIRST STATE BANK OF SAUK CENTRE EMPLOYEE'S 401(K) PROFIT SHARING PLAN & TRUST 2024 401k financial data
Total expenses incurred by plan in this plan year2024-10-02520881
Net assets as of the end of the plan year2024-10-022372777
Total assets as of the beginning of the plan year2024-10-022459051
Value of plan covered by a fidelity bond2024-10-02500000
Participant contributions to plan in this plan year2024-10-0274508
Other income to plan in this plan year2024-10-02267980
Plan net income in this plan year2024-10-02-86274
Net assets as of the end of the plan year2024-10-022372777
Net assets as of the beginning of the plan year2024-10-022459051
Employer contributions to plan in this plan year2024-10-0292119
Fees paid to broker by Benefit Provider2024-10-0222127
Expensese paid to adminstrative service provicers from plan in this plan year2024-10-02560
2010 : FIRST STATE BANK OF SAUK CENTRE EMPLOYEE'S 401(K) PROFIT SHARING PLAN & TRUST 2010 401k financial data
Total income from all sources2010-12-31$673,804
Expenses. Total of all expenses incurred2010-12-31$87,064
Benefits paid (including direct rollovers)2010-12-31$87,064
Total plan assets at end of year2010-12-31$4,389,203
Total plan assets at beginning of year2010-12-31$3,802,463
Value of fidelity bond covering the plan2010-12-31$2,050,000
Total contributions received or receivable from participants2010-12-31$64,276
Other income received2010-12-31$468,147
Net income (gross income less expenses)2010-12-31$586,740
Net plan assets at end of year (total assets less liabilities)2010-12-31$4,389,203
Net plan assets at beginning of year (total assets less liabilities)2010-12-31$3,802,463
Total contributions received or receivable from employer(s)2010-12-31$141,381
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2010-12-31$0

Form 5500 Responses for FIRST STATE BANK OF SAUK CENTRE EMPLOYEE'S 401(K) PROFIT SHARING PLAN & TRUST

2009: FIRST STATE BANK OF SAUK CENTRE EMPLOYEE'S 401(K) PROFIT SHARING PLAN & TRUST 2009 form 5500 responses
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planNo
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes

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