Trustco Bank Profit Sharing/401(K) Plan — Form 5500 plan (Trustco 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, Trustco Bank Profit Sharing/401(K) Plan is a benefit plan reported by Trustco Bank under EIN 14-0578631 and plan number 002. The latest loaded filing year is 2023. The filing reports 1,343 participants and $44,144,025 in end-of-year plan assets, where available in the loaded dataset.
Form 5500 plan profile · 2023
Key reported metrics
Net assets (EOY)$44.1MPlan net assets, end of year$44,144,025
Participants1.3KCovered participants reported1,343
Assets / participant$32.9KComputed: assets ÷ participants$32,870 (computed)
Provider compensation$171.8K3 Schedule C provider row(s)$171,764
- Plan sponsor
- Trustco Bank
- EIN
- 14-0578631
- Plan number
- 002
- Plan type
- 2
- Location
- Albany, NY
- Latest filing year
- 2023
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 1,343 | H, C | 20241011102544NAL0010816659001 |
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)$44.1M total assets
Net assets$44.1MLiabilities$0
Full reported line items
Net assets
- Total assets (EOY)
- $44,144,025
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $44,144,025
- Net assets (BOY)
- $39,449,799
Income & contributions
- Employer contributions
- $1,384,989
- Participant contributions
- $2,088,916
- Total contributions
- $3,829,325
- Total income / additions
- $10,339,092
Expenses & distributions
- Benefits paid
- $5,471,424
- Administrative expenses
- $173,442
- Total expenses
- $5,644,866
- Net increase / (decrease)
- $4,694,226
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.
40%60%
Employer 40%Participant 60%
Total expenses ÷ net assets13%Computed ratio
Benefits paid ÷ total income53%Computed ratio
Provider comp. ÷ net assets0%Computed ratio
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Milliman, Inc. | NONE | $154,519 | not reported in the loaded dataset | 2023 |
| Charles Schwab Trust Bank | NONE | $15,420 | $0 | 2023 |
| Charles Schwab & Co. Inc. | NONE | $1,825 | $0 | 2023 |