Plan Snapshot
- Plan Sponsor: Maine Life Care Retirement Community, INC. Dba Piper Shores
- Sponsor EIN: 010496258
- Sponsor Address: 15 PIPER ROAD, SCARBOROUGH, ME, 04074
- Plan Type: 401(k)
- Total Participants: 234
- Total Assets: $9.3M
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 | 234 | $9.3M | $268,207 | $657,012 |
| 2023 | 233 | $7.4M | $186,980 | $501,965 |
| 2022 | 199 | $7.5M | $183,674 | $487,746 |
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 |
|---|---|---|---|---|
| VALMARK ADVISERS, INC. | INVESTMENT ADVISOR | $24,552 | — | $24,552 |
| EMPOWER ANNUITY INSURANCE COMPANY | RECORDKEEPER | $20,923 | — | $20,923 |
| DOWNEAST PENSION SERVICES, INC. | CONTRACT ADMIN | $1,650 | $8,184 | $9,834 |
| BAKER NEWMAN AND NOYES | Auditor | — | — | $0 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $55,309
- Estimated Expense Ratio: 0.597% 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 | $49,090 | — | $49,090 | — | — |
| 2023 | $46,559 | — | $46,559 | — | — |
| 2022 | $49,685 | — | $49,685 | — | — |