# Versant Power DB Plan
Source: https://planprovider.pro/companies/versant-power-plan-005

> Versant Power's DB plan: 29 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Versant Power

- **Sponsor EIN:** 010024370

- **Sponsor Address:** 970 ILLINOIS AVENUE, BANGOR, ME, 04402

- **Plan Type:** DB

- **Total Participants:** 29

- **Total Assets:** $17.1M

## 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.|

| 2024|29|$17.1M|$400,000|$0|

| 2023|32|$18.3M|$400,000|$0|

| 2022|36|$18.4M|$270,000|$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|

| CLIFTONLARSONALLEN LLP|Auditor|$22,225|—|$22,225|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [CLIFTONLARSONALLEN LLP](https://planprovider.pro/provider/cliftonlarsonallen-llp) — Auditor

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $22,225

- **Estimated Expense Ratio:** 0.130% 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|

| 2024|$199,701|$75,236|—|$22,225|—|

| 2023|$264,642|$55,992|—|$37,500|—|

| 2022|$185,930|—|—|—|$94,683|

## Similar Plans

- [Versant Power](https://planprovider.pro/companies/versant-power-plan-001) — 70 participants

- [Versant Power](https://planprovider.pro/companies/versant-power-401k-plan) — 555 participants

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