Plan Snapshot
- Plan Sponsor: Bankprov
- Sponsor EIN: 043497377
- Sponsor Address: 5 MARKET STREET, AMESBURY, MA, 019132408
- Plan Type: 401(k)
- Plan Number: 002
- Total Participants: 0
- Total Assets: $0
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- 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. |
|---|---|---|---|---|
| 2025 | 0 | $0 | $0 | $0 |
| 2024 | 175 | $26.1M | $1.1M | $1.7M |
| 2023 | 190 | $24.8M | $1.1M | $1.6M |
| 2022 | 202 | $19.9M | $1.1M | $1.5M |
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 |
|---|---|---|---|---|
| PRINCIPAL LIFE INSURANCE COMPANY | Recordkeeper | $40,050 | — | $40,050 |
| COMMERCE STREET INVESTMENT MANAGEME | Investment Advisor | $31,709 | $5 | $31,714 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $71,764
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 |
|---|---|---|---|---|---|
| 2025 | $7,139,148 | $31,709 | $40,051 | — | — |
| 2024 | $83,610 | $28,871 | $54,739 | — | — |
| 2023 | $66,555 | $21,839 | $44,716 | — | — |
| 2022 | $65,928 | $17,143 | $48,785 | — | — |