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

> Machias Savings Bank's 401(k) plan: 291 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Machias Savings Bank

- **Sponsor EIN:** 010111800

- **Sponsor Address:** 4 CENTER STREET PO BOX 318, MACHIAS, ME, 046540318

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

- **Total Participants:** 291

- **Total Assets:** $39.7M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** No

- **Participant Loans:** No

- **Participant-Directed Investments:** No

- **ERISA Section 404(c) Fiduciary Safe Harbor:** Yes

## Plan Financials by Year

| Year|Participants|Total Assets|Employer Contrib.|Employee Contrib.|

| 2024|291|$39.7M|$973,238|$1.9M|

| 2023|295|$34.3M|$1.1M|$2.1M|

| 2022|275|$29.8M|$861,362|$1.7M|

## 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|$57,695|—|—|—|—|

| 2023|$49,054|$46,554|$1,000|—|—|

| 2022|$47,804|—|—|—|—|

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