Plan Ledger DOL Form 5500 · updated monthly

Chemung Canal Trust Company401(k) + ESOP (KSOP)

CHEMUNG CANAL TRUST COMPANY PROFIT SHARING SAVINGS & INVESTMENT PLAN · ELMIRA, NY · plan year 2024

Employer contribution per participant · 2024
$4,404

Chemung Canal Trust Company'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 $64,289,643 across 471 participant accounts, with employer contributions averaging $4,404 per active participant. See methodology for what Form 5500 does and doesn't capture.

The plan sits in the $50M–$250M size bracket, benchmarked here against 10,352 comparable plans and shown alongside other finance & insurance employers. By assets it is the 1,140th-largest of 5,648 plans among New York employers on file, and the 1,379th of 4,798 in finance & insurance. In 2024, employees put in $1.50 for every $1.00 the employer contributed.

Plan summary
Net assets, end of year$64,289,643
Participants with balances471
Active participants342
Employer contributions$1,506,322
Employee contributions$2,258,896
Employer contribution per active participant$4,404
Average account balance$136,496
Benefits paid to participants$6,700,629
Plan auditUnmodified (clean) audit opinion
AuditorMENGEL, METZGER, BARR & CO, LLP
Plan history3
Yearassets · accounts · employer contribution
2024$64.3M · 471 accts · $1.5M emplr
2023$58.4M · 470 accts · $1.4M emplr
2022$48.9M · 496 accts · $1.4M emplr
The Chemung Canal Trust Company 401(k) match · 2024
Employer contribution per active participant$4,404
Median for plans this size$3,635
2024$4,404 per active participant
2023$4,160 per active participant
2022$4,031 per active participant

Chemung Canal Trust Company's 2024 employer contribution ran above the $3,635 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
Same employer
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Source: U.S. Department of Labor, Form 5500 series, EIN 160380815 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.