Andover Bank401(k) + ESOP (KSOP)
ANDOVER BANK EMPLOYEES STOCK PURCHASE PLAN · ANDOVER, OH · plan year 2024
Peer grade: A · admin costs + employer contributions vs same-size plans · how grading works
Andover Bank reported $1,640 in plan administrative expenses for 2024: 0.02% of average plan assets, lower than ~75% of peers. Employer contributions averaged $4,451 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.
Across the 2 years on file its reported administrative ratio fell from 0.05% to 0.02%. The plan sits in the $1M–$10M size bracket, benchmarked here against 18,840 comparable plans and shown alongside other finance & insurance employers. By assets it is among the smaller plans on file in Ohio (2,103rd of 3,295), and 4,096th of 4,798 in finance & insurance. In 2024, the employer put in $1.23 for every $1.00 employees contributed themselves.
Andover Bank's 2024 employer contribution ran above the $1,313 median for plans its size, placing it in the top quarter of its peers. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.
Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 341436056 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.