# Grove Bank & Trust 401(k) Plan
Source: https://planprovider.pro/companies/grove-bank-trust-401k-plan

> Grove Bank & Trust's 401(k) plan: 108 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Grove Bank & Trust

- **Sponsor EIN:** 590199400

- **Sponsor Address:** 2701 SOUTH BAYSHORE DRIVE, MIAMI, FL, 33133

- **Plan Type:** 401(k)

- **Total Participants:** 108

- **Total Assets:** $9.6M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** No

- **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|108|$9.6M|$476,834|$858,439|

| 2023|102|$8.6M|$442,774|$864,591|

| 2022|108|$8.9M|$417,010|$866,909|

## 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|

| BDO USA, P.C.|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [BDO USA, P.C.](https://planprovider.pro/provider/bdo-usa-pc) — Auditor

## 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|$62,039|$24,978|$11,529|—|—|

| 2023|$58,787|$23,998|$12,123|—|—|

| 2022|$62,022|$52,612|$9,410|—|—|

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