# The Milford Bank 401(k) Plan
Source: https://planprovider.pro/companies/the-milford-bank-401k-plan

> The Milford Bank's 401(k) plan: 90 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## 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|—|—|

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