Plan Ledger DOL Form 5500 · updated monthly

Katahdin Valley Health Center401(k)

KATAHDIN VALLEY HEALTH CENTER SAFE HARBOR 401(K) PLAN · PATTEN, ME · plan year 2024

Employer contribution per participant · 2024
$2,245

Katahdin Valley Health Center'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 $5,906,721 across 177 participant accounts, with employer contributions averaging $2,245 per active participant. See methodology for what Form 5500 does and doesn't capture.

Across the 1 year on file its reported administrative ratio fell from 0.23% to 0.11%. The plan sits in the $1M–$10M size bracket, benchmarked here against 18,840 comparable plans and shown alongside other health care & social assistance employers. By assets it is among the smaller plans on file in Maine (265th of 354), and 7,409th of 11,911 in health care & social assistance. In 2024, employees put in $1.52 for every $1.00 the employer contributed.

Plan summary
Net assets, end of year$5,906,721
Participants with balances177
Active participants160
Employer contributions$359,147
Employee contributions$546,909
Employer contribution per active participant$2,245
Average account balance$33,371
Benefits paid to participants$448,011
Plan auditUnmodified (clean) audit opinion
AuditorBERRY DUNN MCNEIL & PARKER, LLC
Plan history3
Yearassets · accounts · employer contribution
2024$5.9M · 177 accts · $359K emplr
2023$4.8M · 168 accts · $338K emplr
2022$3.6M · 143 accts · $284K emplr
The Katahdin Valley Health Center 401(k) match · 2024
Employer contribution per active participant$2,245
Median for plans this size$1,313
2024$2,245 per active participant
2023$1,942 per active participant
2022$1,766 per active participant

Katahdin Valley Health Center's 2024 employer contribution ran above the $1,313 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.

Service providers · 20241
DEFINITI LLC · Recordkeeping · Other services$3,743

Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.

Recordkeeper by year2
2024Definiti
2023Definiti

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Administrative cost history3
2024Not separately reported
2023$4,496 · 0.11%
2022$8,179 · 0.23%
Same employer
Similar plansHealth Care & Social Assistance · Maine
New Communities, Inc. ME$6.8M · 0.36%
Waypoint Maine, Inc. ME$5.8M · 0.70%

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Source: U.S. Department of Labor, Form 5500 series, EIN 237411014 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.