Plan Snapshot
- Plan Sponsor: Kennebunk Savings Bank
- Sponsor EIN: 010100600
- Sponsor Address: PO BOX 28, KENNEBUNK, ME, 04043
- Plan Type: 401(k)
- Total Participants: 343
- Total Assets: $35.9M
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 | 343 | $35.9M | $800,012 | $2.0M |
| 2023 | 330 | $31.2M | $744,399 | $1.9M |
| 2022 | 366 | $26.9M | $679,961 | $1.8M |
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 | $15,383 | $45,251 | — | — | — |
| 2023 | $8,471 | $38,095 | — | — | — |
| 2022 | $11,027 | $15,131 | — | — | — |