Plan Snapshot
- Plan Sponsor: First United Corporation
- Sponsor EIN: 521380770
- Sponsor Address: 19 SOUTH SECOND STREET, OAKLAND, MD, 21550
- Plan Type: DB
- Total Participants: 99
- Total Assets: $55.7M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 99 | $55.7M | $0 | $0 |
| 2023 | 104 | $51.5M | $0 | $0 |
| 2022 | 107 | $48.0M | $0 | $0 |
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 |
|---|---|---|---|---|
| FIRST UNITED TRUST & INVESTMENTS | COMPANY | $354,641 | — | $354,641 |
| CBIZ BENEFITS & INS SVCS OF MD | NONE | $44,180 | — | $44,180 |
| SEK CPA'S & ADVISORS | NONE | $11,422 | — | $11,422 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- SEK CPA'S & ADVISORS — NONE
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $410,243
- Estimated Expense Ratio: 0.737% 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 | $444,078 | $70,928 | — | $11,422 | — |
| 2023 | $403,762 | — | — | $10,578 | — |
| 2022 | $427,566 | — | — | — | $390,078 |