Plan Snapshot
- Plan Sponsor: Saco & Biddeford Savings Institution
- Sponsor EIN: 010153690
- Sponsor Address: 50 INDUSTRIAL PARK ROAD, SACO, ME, 04072
- Plan Type: 401(k)
- Total Participants: 201
- Total Assets: $29.6M
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- 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 | 201 | $29.6M | $792,169 | $1.7M |
| 2023 | 200 | $25.4M | $725,073 | $1.7M |
| 2022 | 196 | $21.3M | $658,009 | $1.5M |
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 |
|---|---|---|---|---|
| BAKER NEWMAN & NOYES | Auditor | — | — | $0 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- BAKER NEWMAN & NOYES — Auditor
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $0
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 | $71,489 | $26,256 | $300 | — | — |
| 2023 | $56,904 | $21,760 | — | — | — |
| 2022 | $56,948 | — | — | — | — |