Plan Snapshot
- Plan Sponsor: The Milford Bank
- Sponsor EIN: 060453420
- Sponsor Address: 33 BROAD STREET, MILFORD, CT, 064603319
- Plan Type: 401(k)
- Total Participants: 90
- Total Assets: $23.0M
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 | 90 | $23.0M | $508,546 | $727,885 |
| 2023 | 76 | $20.2M | $473,328 | $710,661 |
| 2022 | 81 | $18.0M | $508,202 | $660,737 |
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 |
|---|---|---|---|---|
| WHITTLESEY, PC | 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 | $67,062 | — | $67,062 | — | — |
| 2023 | $57,205 | — | $57,205 | — | — |
| 2022 | $54,982 | — | $54,982 | — | — |