The Milford Bank 401(K) Profit Sharing Plan With Cash Or Deferred Arrangement — Form 5500 plan (The Milford 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, The Milford Bank 401(K) Profit Sharing Plan With Cash Or Deferred Arrangement is a benefit plan reported by The Milford Bank under EIN 06-0453420 and plan number 002. The latest loaded filing year is 2023. The filing reports 115 participants and $20,169,829 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- The Milford Bank
- EIN
- 06-0453420
- Plan number
- 002
- Plan type
- 2
- Location
- Milford, CT
- Latest filing year
- 2023
- Participants
- 115
- End-of-year plan assets
- $20,169,829
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 115 | H, C | 20240731121904NAL0014292707001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $20,169,829
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $20,169,829
- Net assets (BOY)
- $18,041,156
Income & contributions
- Employer contributions
- $473,328
- Participant contributions
- $710,661
- Total contributions
- $2,249,479
- Total income / additions
- $5,294,768
Expenses & distributions
- Benefits paid
- $3,108,890
- Administrative expenses
- $57,205
- Total expenses
- $3,166,095
- Net increase / (decrease)
- $2,128,673
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Principal Life Insurance Company | CONTRACT ADMINISTRATOR | $57,205 | $0 | 2023 |
| Alden Capital | INVESTMENT ADVISORY | $0 | $27,713 | 2023 |
| Wilshire Advisors LLC | INVESTMENT ADVISORY | $0 | $0 | 2023 |