Salem Five 401(K) Retirement Plan — Form 5500 plan (Salem Five Cents 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, Salem Five 401(K) Retirement Plan is a benefit plan reported by Salem Five Cents Savings Bank under EIN 04-1802790 and plan number 002. The latest loaded filing year is 2023. The filing reports 977 participants and $99,176,502 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Salem Five Cents Savings Bank
- EIN
- 04-1802790
- Plan number
- 002
- Plan type
- 2
- Location
- Salem, MA
- Latest filing year
- 2023
- Participants
- 977
- End-of-year plan assets
- $99,176,502
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 977 | H, C | 20240708073125NAL0012027041001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $99,176,502
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $99,176,502
- Net assets (BOY)
- $89,825,738
Income & contributions
- Employer contributions
- $1,841,291
- Participant contributions
- $5,457,296
- Total contributions
- $7,733,642
- Total income / additions
- $20,269,096
Expenses & distributions
- Benefits paid
- $10,882,252
- Administrative expenses
- $17,235
- Total expenses
- $10,918,332
- Net increase / (decrease)
- $9,350,764
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Empower Annuity Insurance Company O | NONE | $15,276 | $0 | 2023 |
| Qdro Consultants Company, LLC | NONE | $900 | not reported in the loaded dataset | 2023 |