First United Corporation 401(K) Profit Sharing Plan — Form 5500 plan (First United Corporation)
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, First United Corporation 401(K) Profit Sharing Plan is a benefit plan reported by First United Corporation under EIN 52-1380770 and plan number 002. The latest loaded filing year is 2023. The filing reports 474 participants and $38,233,043 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- First United Corporation
- EIN
- 52-1380770
- Plan number
- 002
- Plan type
- 2
- Location
- Oakland, MD
- Latest filing year
- 2023
- Participants
- 474
- End-of-year plan assets
- $38,233,043
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 474 | H, C | 20241010084524NAL0035296512001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $38,233,043
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $38,233,043
- Net assets (BOY)
- $34,961,693
Income & contributions
- Employer contributions
- $1,420,309
- Participant contributions
- $1,477,272
- Total contributions
- $3,026,583
- Total income / additions
- $7,967,051
Expenses & distributions
- Benefits paid
- $4,632,967
- Administrative expenses
- $62,734
- Total expenses
- $4,695,701
- Net increase / (decrease)
- $3,271,350
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Cbiz Benefits & Insurance Services | CONTRACT ADMINISTRATOR | $22,845 | not reported in the loaded dataset | 2023 |
| Cbiz Investment Advisory Services | INVESTMENT ADVISOR | $15,000 | not reported in the loaded dataset | 2023 |
| Smith Elliott Kerns & Company, LLC | AUDITOR | $10,800 | not reported in the loaded dataset | 2023 |
| Empower Annuity Insurance Company | RECORDKEEPER | $8,944 | $0 | 2023 |
| Empower Advisory Group, LLC | INVESTMENT MGMT | $6,421 | not reported in the loaded dataset | 2023 |
Related Form 5500 pages
- All Form 5500 plans for First United Corporation
- 2023 Form 5500 filing
- Form 5500 filings in MD
- 401(k) and benefit plan filings in Oakland, MD
- Cbiz Benefits & Insurance Services — Schedule C compensation
- Cbiz Investment Advisory Services — Schedule C compensation
- Smith Elliott Kerns & Company, LLC — Schedule C compensation
- Empower Annuity Insurance Company — Schedule C compensation
- Empower Advisory Group, LLC — Schedule C compensation