Plan Snapshot
- Plan Sponsor: The Lowell Five Cent Savings Bank
- Sponsor EIN: 453131005
- Sponsor Address: 30 INTERNATIONAL PLACE, TEWKSBURY, MA, 01876
- Plan Type: 401(k)
- Total Participants: 190
- Total Assets: $34.3M
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 | 190 | $34.3M | $589,085 | $1.3M |
| 2023 | 182 | $29.8M | $554,808 | $1.1M |
| 2022 | 181 | $24.4M | $521,358 | $1.0M |
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 |
|---|---|---|---|---|
| JOHNSON OCONNOR FERON & CARUCCI LLP | Auditor | — | — | $0 |
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 | $1,090 | — | $1,090 | — | — |
| 2023 | $1,020 | — | $1,020 | — | — |
| 2022 | $1,480 | — | $1,480 | — | — |