Plan Snapshot
- Plan Sponsor: Partners Bank
- Sponsor EIN: 010154810
- Sponsor Address: 900 MAIN STREET, SANFORD, ME, 04073
- Plan Type: 401(k)
- Total Participants: 191
- Total Assets: $27.4M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- 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 | 191 | $27.4M | $1.3M | $855,158 |
| 2023 | 126 | $23.8M | $1.1M | $838,657 |
| 2022 | 120 | $19.1M | $997,775 | $758,473 |
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 |
|---|---|---|---|---|
| PENTEGRA SERVICES, INC | Other Service Provider | $23,880 | — | $23,880 |
| EMPOWER ANNUITY INSURANCE COMPANY | Recordkeeper | $21,052 | — | $21,052 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $44,932
- Estimated Expense Ratio: 0.164% 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 | $38,585 | — | — | — | — |
| 2023 | $38,277 | — | — | — | — |
| 2022 | $36,854 | — | — | — | $36,854 |