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BANK OF FRANKLIN 401(K) PLAN 401k Plan overview

Plan NameBANK OF FRANKLIN 401(K) PLAN
Plan identification number 001

BANK OF FRANKLIN 401(K) PLAN Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • 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.

401k Sponsoring company profile

BANK OF FRANKLIN has sponsored the creation of one or more 401k plans.

Company Name:BANK OF FRANKLIN
Employer identification number (EIN):640116850
NAIC Classification:522110
NAIC Description:Commercial Banking

Additional information about BANK OF FRANKLIN

Jurisdiction of Incorporation: Mississippi Secretary of State
Incorporation Date:
Company Identification Number: 401422

More information about BANK OF FRANKLIN

Form 5500 Filing Information

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

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01BRAD JONES2024-06-03
0012022-01-01BRAD JONES2023-10-05
0012021-01-01BRAD JONES2022-07-15
0012020-01-01BRAD JONES2021-08-12
0012019-01-01BRAD JONES2020-07-17
0012018-01-01BRAD JONES2019-06-24
0012017-01-01BRAD JONES2018-06-05
0012016-01-01BRAD JONES2017-04-18
0012015-01-01BRAD JONES2016-07-19
0012014-01-01BRAD JONES2015-06-22
0012013-01-01BRAD JONES2014-07-22
0012012-01-01BRAD JONES2013-06-06
0012011-01-01BRAD JONES2012-04-17
0012010-01-01BRAD JONES2011-07-05
0012009-01-01BRAD JONES

Financial Data on BANK OF FRANKLIN 401(K) PLAN

Measure Date Value
2024 : BANK OF FRANKLIN 401(K) PLAN 2024 401k financial data
Total expenses incurred by plan in this plan year2024-06-03207818
Net assets as of the end of the plan year2024-06-034212244
Total assets as of the beginning of the plan year2024-06-033586921
Value of plan covered by a fidelity bond2024-06-032100000
Participant contributions to plan in this plan year2024-06-03162476
Value of participant loans at end of plan year2024-06-0329949
Other income to plan in this plan year2024-06-03577690
Plan net income in this plan year2024-06-03625323
Net assets as of the end of the plan year2024-06-034212244
Net assets as of the beginning of the plan year2024-06-033586921
Employer contributions to plan in this plan year2024-06-0392975
Expensese paid to adminstrative service provicers from plan in this plan year2024-06-0324520

Form 5500 Responses for BANK OF FRANKLIN 401(K) PLAN

2009: BANK OF FRANKLIN 401(K) PLAN 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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