# First United Corporation 401(k) Plan
Source: https://planprovider.pro/companies/first-united-corporation-401k-plan

> First United Corporation's 401(k) plan: 320 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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](https://planprovider.pro/provider/smith-elliott-kearns-and-company-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|

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[View full interactive plan profile on PlanProvider.Pro](https://planprovider.pro/companies/first-united-corporation-401k-plan)

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