# Kennebec Savings Bank 401(k) Plan
Source: https://planprovider.pro/companies/kennebec-savings-bank-401k-plan

> Kennebec Savings Bank's 401(k) plan: 198 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Kennebec Savings Bank

- **Sponsor EIN:** 010100490

- **Sponsor Address:** 150 STATE ST, AUGUSTA, ME, 043320050

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

- **Total Participants:** 198

- **Total Assets:** $50.1M

## 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|198|$50.1M|$1.7M|$1.4M|

| 2023|188|$43.3M|$1.7M|$1.3M|

| 2022|190|$36.8M|$1.6M|$1.2M|

## 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|

| BDMP ASSURANCE, LLP|Auditor|$15,700|—|$15,700|

### Verified Provider Profiles

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

- [BDMP ASSURANCE, LLP](https://planprovider.pro/provider/bdmp-assurance-llp) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $15,700

- **Estimated Expense Ratio:** 0.031% 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|$134,721|$22,000|$97,021|$15,700|—|

| 2023|$107,237|$27,500|$79,737|—|—|

| 2022|$116,119|$22,000|$80,014|—|$14,105|

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