How much does Conservit, Inc. contribute to its ESOP?

In 2023, employer contributions to the Conservit, Inc. plan averaged $19,837 per active participant, above the $2,440 median for plans of similar size. Public filings report contribution dollars, not the match formula; the formula is in the plan's summary plan description.

What is the average account balance in the Conservit, Inc. 401(k)?

The average participant account balance was $219,039 for plan year 2023, based on 152 accounts.

Conservit, Inc.ESOP

Name: Conservit, Inc. 401(k) plan: Form 5500 data
Creator: U.S. Department of Labor

CONSERVIT, INC. EMPLOYEE STOCK OWNERSHIP PLAN · HAGERSTOWN, MD · plan year 2023

Employer contribution per participant · 2023

$19,837

Conservit, Inc.'s 2023 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 $33,293,961 across 152 participant accounts, with employer contributions averaging $19,837 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 26,779 comparable plans and shown alongside other administrative & support services employers. By assets it is the 441st-largest of 1,671 plans among Maryland employers on file, and the 424th of 2,534 in administrative & support services.

Plan summary
Net assets, end of year$33,293,961
Participants with balances152
Active participants92
Employer contributions$1,825,000
Employee contributions—
Employer contribution per active participant$19,837
Average account balance$219,039
Benefits paid to participants$1,439,326
Plan auditUnmodified (clean) audit opinion
AuditorSC&H ATTEST SERVICES, P.C.

Plan history2

Yearassets · accounts · employer contribution

2023$33.3M · 152 accts · $1.8M emplr

2022$30.3M · 145 accts · $1.7M emplr

Employer contributions to the Conservit, Inc. plan · 2023

Employer contribution per active participant$19,837

Median for plans this size$2,440

2023$19,837 per active participant

2022$18,929 per active participant

Conservit, Inc.'s 2023 employer contribution ran above the $2,440 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.

Administrative cost history2

2023Not separately reported

2022Not separately reported

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Source: U.S. Department of Labor, Form 5500 series, EIN 521000878 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.