2023 Form 5500 filing — The Milford Bank 401(K) Profit Sharing Plan With Cash Or Deferred Arrangement
Plain-English filing summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, this is the 2023 Form 5500 filing (EFAST2 acknowledgement 20240731121904NAL0014292707001) for The Milford Bank 401(K) Profit Sharing Plan With Cash Or Deferred Arrangement, reported by The Milford Bank under EIN 06-0453420 and plan number 002. It reports 115 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20240731121904NAL0014292707001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- The Milford Bank
- EIN
- 06-0453420
- Plan number
- 002
- Location
- Milford, CT
- Participants
- 115
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $20,169,829
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $20,169,829
- Employer contributions
- $473,328
- Participant contributions
- $710,661
- Total income / additions
- $5,294,768
- Benefits paid
- $3,108,890
- Administrative expenses
- $57,205
- Total expenses
- $3,166,095
- Net increase / (decrease)
- $2,128,673
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Principal Life Insurance Company | CONTRACT ADMINISTRATOR | $57,205 | $0 |
| Alden Capital | INVESTMENT ADVISORY | $0 | $27,713 |
| Wilshire Advisors LLC | INVESTMENT ADVISORY | $0 | $0 |