Plan Snapshot
- Plan Sponsor: Franklin Savings Bank
- Sponsor EIN: 010072660
- Sponsor Address: 197 MAIN STREET, FARMINGTON, ME, 04938
- Plan Type: DB
- Total Participants: 119
- Total Assets: $65.0M
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 | 119 | $65.0M | $0 | $0 |
| 2023 | 113 | $61.4M | $166,812 | $0 |
| 2022 | 99 | $54.6M | $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 |
|---|---|---|---|---|
| BAKER NEWMAN & NOYES 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 | $242,654 | — | — | — | — |
| 2023 | $223,015 | — | — | — | — |
| 2022 | $234,306 | $206,293 | $28,013 | — | — |