# Mechanics Bank 401(k) Plan
Source: https://planprovider.pro/companies/mechanics-bank-401k-plan-002

> Mechanics Bank's 401(k) plan: 159 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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|

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