Plan Snapshot
- Plan Sponsor: Liberty Bank
- Sponsor EIN: 060452570
- Sponsor Address: 245 LONG HILL ROAD, MIDDLETOWN, CT, 06457
- Plan Type: 401(k)
- Total Participants: 823
- Total Assets: $126.0M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: Yes
- 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 | 823 | $126.0M | $2.3M | $6.7M |
| 2023 | 788 | $105.0M | $2.0M | $5.5M |
| 2022 | 699 | $84.0M | $1.7M | $4.6M |
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 |
|---|---|---|---|---|
| GRANT THORNTON LLP | Auditor | $26,000 | — | $26,000 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- GRANT THORNTON LLP — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $26,000
- Estimated Expense Ratio: 0.021% 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 | $279,469 | $96,507 | — | $26,000 | — |
| 2023 | $274,216 | $86,120 | $47,500 | — | — |
| 2022 | $222,090 | $70,000 | — | — | — |