2023 Form 5500 filing — Skowhegan Savings Bank 401(K) Retirement Plan
Plain-English filing summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, this is the 2023 Form 5500 filing (EFAST2 acknowledgement 20240730102326NAL0020546609001) for Skowhegan Savings Bank 401(K) Retirement Plan, reported by Skowhegan Savings Bank under EIN 01-0160050 and plan number 002. It reports 175 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20240730102326NAL0020546609001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Skowhegan Savings Bank
- EIN
- 01-0160050
- Plan number
- 002
- Location
- Skowhegan, ME
- Participants
- 175
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $13,290,904
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $13,290,904
- Employer contributions
- $628,724
- Participant contributions
- $599,904
- Total income / additions
- $3,101,425
- Benefits paid
- $1,622,329
- Administrative expenses
- $43,214
- Total expenses
- $1,699,799
- Net increase / (decrease)
- $1,401,626
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Valmark | INVESTMENT ADVISOR | $26,174 | not reported in the loaded dataset |
| Empower Annuity Ins. Co. Of America | RECORDKEEPER | $18,316 | $0 |
| The Angell Pension Group | CONTRACT ADMIN | $5,200 | not reported in the loaded dataset |