Plan Snapshot
- Plan Sponsor: Mechanics Bank
- Sponsor EIN: 340394160
- Sponsor Address: 2 SOUTH MAIN STREET, MANSFIELD, OH, 44902
- Plan Type: 401(k)
- Total Participants: 159
- Total Assets: $14.2M
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 | 159 | $14.2M | $523,527 | $622,760 |
| 2023 | 151 | $12.8M | $485,447 | $540,943 |
| 2022 | 152 | $10.7M | $432,327 | $485,288 |
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 |
|---|---|---|---|---|
| PROTPA LLC | Other Service Provider | $29,242 | — | $29,242 |
| ESB WEALTH MANAGEMENT | Other Service Provider | $23,470 | — | $23,470 |
| CROWE HORWATH LLP | Other Service Provider | $18,375 | — | $18,375 |
| MATRIX TRUST COMPANY | Other Service Provider | $6,519 | — | $6,519 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $77,606
- Estimated Expense Ratio: 0.547% 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 | $77,606 | $23,470 | — | $18,375 | — |
| 2023 | $68,807 | $20,338 | $26,019 | $16,800 | — |
| 2022 | $63,628 | $19,575 | $24,115 | — | $14,500 |