# Morton Community Bank 401(k) Plan
Source: https://planprovider.pro/companies/morton-community-bank-401k-plan

> Morton Community Bank's 401(k) plan: 613 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Morton Community Bank

- **Sponsor EIN:** 370808298

- **Sponsor Address:** 721 WEST JACKSON STREET, MORTON, IL, 61550

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

- **Total Participants:** 613

- **Total Assets:** $58.2M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** No

- **Participant Loans:** Yes

- **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|613|$58.2M|$739,139|$2.5M|

| 2023|589|$51.0M|$661,483|$2.2M|

| 2022|490|$41.0M|$611,653|$1.8M|

## 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|

| ALLIANCE PENSION CONSULTANTS, INC.|RECORDKEEPER|$69,695|—|$69,695|

| DAVID VAUGHAN INVESTMENTS, LLC|INVESTMENT ADVISOR|$44,155|—|$44,155|

| CHARLES SCHWAB TRUST BANK|CUSTODIAN|—|$11,115|$11,115|

| CLIFTON LARSON ALLEN LLP|Auditor|—|—|$0|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [DAVID VAUGHAN INVESTMENTS, LLC](https://planprovider.pro/provider/david-vaughan-investments-llc) — INVESTMENT ADVISOR

- [CHARLES SCHWAB TRUST BANK](https://planprovider.pro/provider/charles-schwab-and-co-inc) — CUSTODIAN

- [CLIFTON LARSON ALLEN LLP](https://planprovider.pro/provider/cliftonlarsonallen-llp) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $124,965

- **Estimated Expense Ratio:** 0.215% 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|$121,950|$44,155|—|—|—|

| 2023|$85,185|$35,615|—|—|—|

| 2022|$86,927|$14,285|—|—|$60,992|

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