Plan Snapshot
- Plan Sponsor: Versant Power
- Sponsor EIN: 010024370
- Sponsor Address: 970 ILLINOIS AVENUE, BANGOR, ME, 04401
- Plan Type: 401(k)
- Plan Number: 502
- Total Participants: 548
- Total Assets: $4.5M
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2025 | 548 | $4.5M | $0 | $0 |
| 2024 | 104 | $4.2M | $9.8M | $2.3M |
| 2023 | 112 | $3.8M | $7.8M | $2.2M |
| 2022 | 126 | $3.3M | $6.0M | $2.0M |
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 |
|---|---|---|---|---|
| ANTHEM HEALTH PLANS OF MAINE INC | Recordkeeper | $279,923 | — | $279,923 |
| OPTUM HEALTH FINANCIAL SERVICES | Recordkeeper | $15,323 | — | $15,323 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $295,246
- Estimated Expense Ratio: 6.499% 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 |
|---|---|---|---|---|---|
| 2025 | $11,871,620 | — | $280,270 | — | — |
| 2024 | $245,463 | — | $243,807 | — | — |
| 2023 | $271,956 | $3,894 | $268,062 | — | — |
| 2022 | $418,271 | $6,896 | $411,375 | — | — |