Plan Snapshot
- Plan Sponsor: Adirondack Bank
- Sponsor EIN: 150438700
- Sponsor Address: 185 GENESEE STREET, STE. 1100, UTICA, NY, 13501
- Plan Type: 401(k)
- Total Participants: 191
- Total Assets: $16.0M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 191 | $16.0M | $720,988 | $752,483 |
| 2023 | 201 | $13.6M | $633,300 | $688,922 |
| 2022 | 200 | $11.5M | $568,549 | $621,436 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| DERMODY, BURKE & BROWN CPA'S LLC | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $155,571 | — | $73,897 | — | — |
| 2023 | $128,954 | $60,784 | $5,155 | — | — |
| 2022 | $73,984 | — | $73,984 | — | — |