Plan Snapshot
- Plan Sponsor: Walden Savings Bank
- Sponsor EIN: 141155630
- Sponsor Address: 15 SCOTT'S CORNERS DRIVE, MONTGOMERY, NY, 12549
- Plan Type: 401(k)
- Plan Number: 002
- Total Participants: 164
- Total Assets: $21.2M
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. |
|---|---|---|---|---|
| 2025 | 164 | $21.2M | $0 | $0 |
| 2024 | 136 | $18.0M | $408,165 | $912,013 |
| 2023 | 142 | $15.7M | $379,473 | $839,277 |
| 2022 | 144 | $13.1M | $358,223 | $783,523 |
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 |
|---|---|---|---|---|
| EMPOWER LIFE & ANNUITY INSURANCE CO | Recordkeeper | $55,338 | — | $55,338 |
| J ALDEN ASSOCIATES INC | Investment Advisor | — | $36,174 | $36,174 |
| BONADIO & CO LLP | Auditor | $11,200 | — | $11,200 |
| LEAFHOUSE FINANCIAL ADVISORS, LLC | Investment Advisor | $9,532 | — | $9,532 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $112,244
- Estimated Expense Ratio: 0.528% 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 | $1,337,427 | $9,532 | — | $11,200 | — |
| 2024 | $93,580 | $31,438 | — | $10,700 | — |
| 2023 | $71,663 | $13,928 | — | — | — |
| 2022 | $49,237 | — | $49,237 | — | — |