Plan Ledger DOL Form 5500 · updated monthly

Bath Savings Institution401(k)

BATH SAVINGS INSTITUTION 401(K) PLAN · BATH, ME · plan year 2024

Employer contribution per participant · 2024
$3,273

Bath Savings Institution's 2024 Form 5500 did not separately report plan administrative expenses, which is common where recordkeeping is paid through investment revenue-sharing or a master trust. The plan held $37,341,647 across 191 participant accounts, with employer contributions averaging $3,273 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $10M–$50M size bracket, benchmarked here against 27,838 comparable plans and shown alongside other finance & insurance employers. By assets it is the 84th-largest of 354 plans among Maine employers on file, and the 2,073rd of 4,798 in finance & insurance. In 2024, employees put in $2.00 for every $1.00 the employer contributed.

Plan summary
Net assets, end of year$37,341,647
Participants with balances191
Active participants151
Employer contributions$494,237
Employee contributions$988,631
Employer contribution per active participant$3,273
Average account balance$195,506
Benefits paid to participants$2,596,476
Plan auditUnmodified (clean) audit opinion
AuditorBAKER NEWMAN AND NOYES
Plan history3
Yearassets · accounts · employer contribution
2024$37.3M · 191 accts · $494K emplr
2023$34.8M · 197 accts · $490K emplr
2022$28.5M · 187 accts · $461K emplr
The Bath Savings Institution 401(k) match · 2024
Employer contribution per active participant$3,273
Median for plans this size$2,416
2024$3,273 per active participant
2023$2,989 per active participant
2022$2,863 per active participant

Bath Savings Institution's 2024 employer contribution ran above the $2,416 median for plans its size. 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.

Administrative cost history3
2024Not separately reported
2023Not separately reported
2022Not separately reported
Similar plansFinance & Insurance · Maine
Norway Savings Bank ME$55.5M · 0.13%
First National Bank ME$46.5M · 0.05%
Machias Savings Bank ME$39.7M · 0.16%
Gorham Savings Bank ME$37.5M · 0.01%
Kennebunk Savings Bank ME$35.9M · 0.05%
Clark Insurance ME$35.1M · 0.03%
Maine Credit Union League ME$34.8M · 0.25%

Why are you looking at this plan?

Compare

Source: U.S. Department of Labor, Form 5500 series, EIN 010026120 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.