Banknewport 401(K) Plan — Form 5500 plan (Banknewport)
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, Banknewport 401(K) Plan is a benefit plan reported by Banknewport under EIN 20-2633950 and plan number 002. The latest loaded filing year is 2023. The filing reports 471 participants and $55,649,424 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Banknewport
- EIN
- 20-2633950
- Plan number
- 002
- Plan type
- 2
- Location
- Middletown, RI
- Latest filing year
- 2023
- Participants
- 471
- End-of-year plan assets
- $55,649,424
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 471 | H, C | 20241004092205NAL0006550387001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $55,649,424
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $55,649,424
- Net assets (BOY)
- $46,453,616
Income & contributions
- Employer contributions
- $1,303,528
- Participant contributions
- $2,386,987
- Total contributions
- $4,050,093
- Total income / additions
- $14,069,383
Expenses & distributions
- Benefits paid
- $4,846,267
- Administrative expenses
- $24,513
- Total expenses
- $4,873,575
- Net increase / (decrease)
- $9,195,808
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Strategic Advisors, Inc. | ADVISOR | $20,332 | $0 | 2023 |
| Fidelity Inv Inst Oper Company Inc. | RECORDKEEPER | $4,181 | $0 | 2023 |