Plan Snapshot
- Plan Sponsor: Retail Association Of Maine
- Sponsor EIN: 010165117
- Sponsor Address: 45 MELVILLE STREET STE 1, AUGUSTA, ME, 04330
- Plan Type: 401(k)
- Total Participants: 5,822
- Total Assets: $76.9M
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 | 5,822 | $76.9M | $2.2M | $7.6M |
| 2023 | 3,027 | $73.4M | $2.1M | $6.5M |
| 2022 | 4,383 | $47.0M | $1.4M | $5.1M |
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 |
|---|---|---|---|---|
| LINCOLN NATIONAL CORPORATION | Recordkeeper | $575,619 | — | $575,619 |
| ATLAS PENSION ADMINISTRATORS INC | Other Service Provider | $96,117 | — | $96,117 |
| ATLAS FIDUCIARY SERVICES | Other Service Provider | $74,249 | — | $74,249 |
| SAGEPOINT FINANCIAL INC | Other Service Provider | $47,915 | — | $47,915 |
| CAMBRIDGE INVESTMENT RESEARCH | Other Service Provider | $29,075 | — | $29,075 |
| TRANSAMERICA RETIREMENT SOLUTIONS | Recordkeeper | $22,209 | — | $22,209 |
| TRANSAMERICA FINANCIAL LIFE INS CO. | Recordkeeper | $9,913 | — | $9,913 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- LINCOLN NATIONAL CORPORATION — Recordkeeper
- TRANSAMERICA RETIREMENT SOLUTIONS — Recordkeeper
- TRANSAMERICA FINANCIAL LIFE INS CO. — Recordkeeper
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $855,097
- Estimated Expense Ratio: 1.113% 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 | $909,652 | — | $909,652 | — | — |
| 2023 | $591,040 | — | $591,040 | — | — |
| 2022 | $411,427 | — | $411,427 | — | — |