Franklin Savings Bank 401k Plan — Form 5500 plan (Franklin Savings Bank)
Plain-English plan 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, Franklin Savings Bank 401k Plan is a benefit plan reported by Franklin Savings Bank under EIN 01-0072660 and plan number 002. The latest loaded filing year is 2023. The filing reports 156 participants and $9,821,812 in end-of-year plan assets, where available in the loaded dataset.
Form 5500 plan profile · 2023
Key reported metrics
Net assets (EOY)$9.8MPlan net assets, end of year$9,821,812
Participants156Covered participants reported
Assets / participant$63KComputed: assets ÷ participants$62,960 (computed)
Provider compensation$1.2K3 Schedule C provider row(s)$1,200
- Plan sponsor
- Franklin Savings Bank
- EIN
- 01-0072660
- Plan number
- 002
- Plan type
- 2
- Location
- Farmington, ME
- Latest filing year
- 2023
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 156 | H, C | 20240820051738NAL0005087378001 |
Schedule H · 2023
Reported financial statement
Reported figures as filed, in whole dollars. Only fields the filing reports are shown; others are marked not reported.
Reported balance (end of year)$9.8M total assets
Net assets$9.8MLiabilities$0
Full reported line items
Net assets
- Total assets (EOY)
- $9,821,812
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $9,821,812
- Net assets (BOY)
- $8,000,648
Income & contributions
- Employer contributions
- $79,486
- Participant contributions
- $538,688
- Total contributions
- $969,594
- Total income / additions
- $2,339,613
Expenses & distributions
- Benefits paid
- $516,366
- Administrative expenses
- $1,200
- Total expenses
- $518,449
- Net increase / (decrease)
- $1,821,164
Computed from reported fields
Reported ratios
Derived only from this plan's own reported figures — comparisons within the filing, not benchmarks, estimates, or national averages.
13%87%
Employer 13%Participant 87%
Total expenses ÷ net assets5%Computed ratio
Benefits paid ÷ total income22%Computed ratio
Provider comp. ÷ net assets0%Computed ratio
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Adp, Inc. | RECORD KEEPER | $1,200 | $0 | 2023 |
| Adp Broker-Dealer | RECORD KEEPER | $0 | $0 | 2023 |
| Lpl Financial | ADVISOR | $0 | $0 | 2023 |