Plan Snapshot
- Plan Sponsor: First United Corporation
- Sponsor EIN: 521380770
- Sponsor Address: 19 SOUTH SECOND STREET, OAKLAND, MD, 21550
- Plan Type: 401(k)
- Total Participants: 320
- Total Assets: $43.3M
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. |
|---|---|---|---|---|
| 2024 | 320 | $43.3M | $1.5M | $1.6M |
| 2023 | 329 | $38.2M | $1.4M | $1.5M |
| 2022 | 323 | $35.0M | $1.3M | $1.3M |
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 |
|---|---|---|---|---|
| CBIZ BENEFITS & INSURANCE SERVICES | CONTRACT ADMINISTRATOR | $29,684 | — | $29,684 |
| CBIZ FINANCIAL SOLUTIONS INC | INVESTMENT ADVISOR | $13,216 | — | $13,216 |
| SMITH ELLIOTT KERNS & COMPANY, LLC | AUDITOR | $12,000 | — | $12,000 |
| SMITH, ELLIOTT, KEARNS & CO., LLC | Auditor | $12,000 | — | $12,000 |
| EMPOWER ANNUITY INSURANCE COMPANY | RECORDKEEPER | $8,816 | — | $8,816 |
| EMPOWER ADVISORY GROUP, LLC | INVESTMENT MGMT | $6,340 | — | $6,340 |
| CBIZ INVESTMENT ADVISORY SERVICES, | INVESTMENT ADVISOR | $5,025 | — | $5,025 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- SMITH, ELLIOTT, KEARNS & CO., LLC — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $87,081
- Estimated Expense Ratio: 0.201% of plan assets
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 | $69,725 | $18,242 | $29,684 | $12,000 | — |
| 2023 | $62,734 | $15,000 | $22,844 | $10,800 | — |
| 2022 | $56,525 | $15,000 | $31,725 | — | $9,800 |