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BANK OF FRANKLIN COUNTY 401K PLAN 401k Plan overview

Plan NameBANK OF FRANKLIN COUNTY 401K PLAN
Plan identification number 001

BANK OF FRANKLIN COUNTY 401K PLAN 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.
  • 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

FRANKLIN BANCORP, INC. has sponsored the creation of one or more 401k plans.

Company Name:FRANKLIN BANCORP, INC.
Employer identification number (EIN):431871244
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BANK OF FRANKLIN COUNTY 401K PLAN

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01JANE A. GLASTETTER2024-05-29
0012022-01-01JANE A. GLASTETTER2023-06-30
0012021-01-01JANE A. GLASTETTER2022-05-18
0012020-01-01JANE A. GLASTETTER2021-06-03
0012019-01-01JANE A. GLASTETTER2020-07-06
0012018-01-01JANE A. GLASTETTER2019-07-08
0012017-01-01JANE A. GLASTETTER2018-05-21
0012016-01-01JANE A. GLASTETTER2017-05-19
0012013-01-01JANE A. GLASTETTER2014-05-19
0012012-01-01JANE A. GLASTETTER2013-04-03
0012011-01-01JANE A. GLASTETTER2012-04-02
0012010-01-01JANE A. GLASTETTER2011-05-04

Plan Statistics for BANK OF FRANKLIN COUNTY 401K PLAN

401k plan membership statisitcs for BANK OF FRANKLIN COUNTY 401K PLAN

Measure Date Value
2025: BANK OF FRANKLIN COUNTY 401K PLAN 2025 401k membership
Total number of particpants at beginning of year2025-06-1880
Total number of particpants at end of year2025-06-1875
Number of Participants With Account Balances2025-06-1874
2024: BANK OF FRANKLIN COUNTY 401K PLAN 2024 401k membership
Total number of particpants at beginning of year2024-05-2973
Total number of particpants at end of year2024-05-2979
Number of Participants With Account Balances2024-05-2978
2022: BANK OF FRANKLIN COUNTY 401K PLAN 2022 401k membership
Total number of particpants at beginning of year2022-05-1869
Total number of particpants at end of year2022-05-1865
Number of Participants With Account Balances2022-05-1864

Financial Data on BANK OF FRANKLIN COUNTY 401K PLAN

Measure Date Value
2025 : BANK OF FRANKLIN COUNTY 401K PLAN 2025 401k financial data
Total transfers to/from plan in this plan year2025-06-180
Total liabilities as of the end of the plan year2025-06-180
Total liabilities as of the beginning of the plan year2025-06-180
Total expenses incurred by plan in this plan year2025-06-1892814
Net assets as of the end of the plan year2025-06-186357640
Total assets as of the beginning of the plan year2025-06-185248762
Value of plan covered by a fidelity bond2025-06-185000000
Participant contributions to plan in this plan year2025-06-18201268
Value of participant loans at end of plan year2025-06-181138
Other expenses paid from plan in this plan year2025-06-180
Other contributions to plan in this plan year2025-06-180
Other income to plan in this plan year2025-06-18835537
Plan net income in this plan year2025-06-181108878
Net assets as of the end of the plan year2025-06-186357640
Net assets as of the beginning of the plan year2025-06-185248762
Employer contributions to plan in this plan year2025-06-18164887
Expensese paid to adminstrative service provicers from plan in this plan year2025-06-18800
2024 : BANK OF FRANKLIN COUNTY 401K PLAN 2024 401k financial data
Total expenses incurred by plan in this plan year2024-05-29119240
Net assets as of the end of the plan year2024-05-295248762
Total assets as of the beginning of the plan year2024-05-294177115
Value of plan covered by a fidelity bond2024-05-295000000
Participant contributions to plan in this plan year2024-05-29208619
Value of participant loans at end of plan year2024-05-2924291
Other expenses paid from plan in this plan year2024-05-29870
Other contributions to plan in this plan year2024-05-2928930
Other income to plan in this plan year2024-05-29795900
Plan net income in this plan year2024-05-291071647
Net assets as of the end of the plan year2024-05-295248762
Net assets as of the beginning of the plan year2024-05-294177115
Employer contributions to plan in this plan year2024-05-29157438
2022 : BANK OF FRANKLIN COUNTY 401K PLAN 2022 401k financial data
Total expenses incurred by plan in this plan year2022-05-18172341
Net assets as of the end of the plan year2022-05-185111950
Total assets as of the beginning of the plan year2022-05-184049241
Value of plan covered by a fidelity bond2022-05-18500000
Participant contributions to plan in this plan year2022-05-18151351
Other expenses paid from plan in this plan year2022-05-18550
Other contributions to plan in this plan year2022-05-18285865
Other income to plan in this plan year2022-05-18672730
Plan net income in this plan year2022-05-181062709
Net assets as of the end of the plan year2022-05-185111950
Net assets as of the beginning of the plan year2022-05-184049241
Employer contributions to plan in this plan year2022-05-18125104

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