Plan Snapshot
- Plan Sponsor: Versant Power
- Sponsor EIN: 010024370
- Sponsor Address: 970 ILLINOIS AVE, BANGOR, ME, 04402
- Plan Type: DB
- Plan Number: 001
- Total Participants: 784
- Total Assets: $140.5M
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 | 784 | $140.5M | $0 | $0 |
| 2024 | 70 | $119.8M | $1.5M | $0 |
| 2023 | 73 | $123.9M | $1.5M | $0 |
| 2022 | 80 | $117.7M | $3.0M | $0 |
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 |
|---|---|---|---|---|
| MERCER INVESTMENTS LLC | Other Service Provider | $197,042 | — | $197,042 |
| MERCER (US) LLC | Actuary | $140,865 | — | $140,865 |
| US BANK N.A. | Custodian / Trustee | $33,252 | — | $33,252 |
| CLIFTON LARSON ALLEN LLP | Auditor | $20,475 | — | $20,475 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $391,634
- Estimated Expense Ratio: 0.279% 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 | $7,446,626 | $198,533 | — | $20,475 | — |
| 2024 | $506,361 | $197,066 | — | $22,225 | — |
| 2023 | $487,634 | $152,983 | — | $37,500 | — |
| 2022 | $236,614 | — | — | — | $130,253 |