Gorham Savings Bank 401(K) Incentive Savings Plan — Form 5500 plan (Gorham Savings Bank)
Plain-English plan 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, Gorham Savings Bank 401(K) Incentive Savings Plan is a benefit plan reported by Gorham Savings Bank under EIN 01-0078890 and plan number 002. The latest loaded filing year is 2023. The filing reports 298 participants and $34,532,025 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Gorham Savings Bank
- EIN
- 01-0078890
- Plan number
- 002
- Plan type
- 2
- Location
- Gorham, ME
- Latest filing year
- 2023
- Participants
- 298
- End-of-year plan assets
- $34,532,025
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 298 | H, C | 20250109160527NAL0007048323001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $34,532,025
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $34,532,025
- Net assets (BOY)
- $28,762,723
Income & contributions
- Employer contributions
- $963,502
- Participant contributions
- $1,093,305
- Total contributions
- $2,057,091
- Total income / additions
- $6,951,638
Expenses & distributions
- Benefits paid
- $1,178,895
- Administrative expenses
- $3,441
- Total expenses
- $1,182,336
- Net increase / (decrease)
- $5,769,302
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Charles Schwab Trust Bank | NONE | $0 | $8,620 | 2023 |
| Epic Retirement Plan Services | NONE | $3,441 | $0 | 2023 |
| Charles Schwab & Co., Inc. | NONE | $0 | $0 | 2023 |