Farmers & Merchants Bank401(k)
VBA DEFINED CONTRIBUTION PLAN FOR FARMERS & MERCHANTS BANK · TIMBERVILLE, VA · plan year 2023
Peer grade: C · admin costs + employer contributions vs same-size plans · how grading works
Farmers & Merchants Bank reported $76,047 in plan administrative expenses for 2023: 0.66% of average plan assets, higher than ~90% of peers. Employer contributions averaged $2,321 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 3 years on file its reported administrative ratio has held roughly steady near 0.65%. The plan sits in the $10M–$50M size bracket, benchmarked here against 26,779 comparable plans and shown alongside other finance & insurance employers. By assets it is among the smaller plans on file in Virginia (1,314th of 2,266), and 3,730th of 4,798 in finance & insurance. In 2023, employees put in $2.35 for every $1.00 the employer contributed.
Farmers & Merchants Bank's 2023 employer contribution ran below the $2,440 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2023 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
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Source: U.S. Department of Labor, Form 5500 series, EIN 540208040 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.