# Adirondack Bank 401(k) Plan
Source: https://planprovider.pro/companies/adirondack-bank-401k-plan

> Adirondack Bank's 401(k) plan: 191 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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|—|—|

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