Plan Snapshot
- Plan Sponsor: Maine Education Association
- Sponsor EIN: 010479776
- Sponsor Address: 35 COMMUNITY DRIVE, AUGUSTA, ME, 04330
- Plan Type: Health & Welfare
- Plan Number: 501
- Total Participants: 26,948
- Total Assets: $144.8M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 26,948 | $144.8M | $511.2M | $6.2M |
| 2023 | 26,849 | $170.0M | $481.4M | $5.1M |
| 2022 | 26,867 | $152.2M | $470.5M | $5.1M |
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 |
|---|---|---|---|---|
| MAINE EDUCATION ASSOCIATION | Other Service Provider | $797,500 | — | $797,500 |
| JENNIFER KENT | Other Service Provider | $169,950 | — | $169,950 |
| VERRILL & DANA LLP | ERISA Attorney | $161,976 | — | $161,976 |
| CHEIRON, INC | Actuary | $147,293 | — | $147,293 |
| MICHAEL BOOTH | Other Service Provider | $104,625 | — | $104,625 |
| SHARON BEAULIEU | Other Service Provider | $82,870 | — | $82,870 |
| LYNN ACETO | Other Service Provider | $75,563 | — | $75,563 |
| HM PAYSON | Other Service Provider | $67,722 | — | $67,722 |
| BERRY DUNN MCNEIL & PARKER LLC | Actuary | $65,188 | — | $65,188 |
| REBECCA MANGIN | Other Service Provider | $30,815 | — | $30,815 |
| WIPFLI | Auditor | $26,125 | — | $26,125 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- VERRILL & DANA LLP — ERISA Attorney
- WIPFLI — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $1,729,627
- Estimated Expense Ratio: 1.195% 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 | $2,579,735 | $67,722 | $797,500 | $26,125 | — |
| 2023 | $2,472,631 | $60,458 | $797,500 | $26,175 | — |
| 2022 | $2,486,570 | $53,098 | $802,083 | — | — |