Employers › Grove Bank & Trust
Recordkeeping fees per participant · Grove Bank & Trust 401(k) Profit Sharing Plan · plan year 2024
$172.51
Higher than 84% of the 7,477 plans $1 to 10M that report it.
= $25,532 / 148
Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20251009151942NAL0004035203001, received 2025-10-09
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251009151942NAL0004035203001, received 2025-10-09
Percentiles compare this plan with the Schedule H plans $1 to 10M in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-10-09.
Administrative expenses excluding investment management, per participant
$250.41
Higher than 85% of the 14,713 plans $1 to 10M that report it.
= $37,061 / 148
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251009151942NAL0004035203001, received 2025-10-09
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251009151942NAL0004035203001, received 2025-10-09
Administrative expenses per participant
$419.18
Higher than 94% of the 15,210 plans $1 to 10M that report it.
= $62,039 / 148
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251009151942NAL0004035203001, received 2025-10-09
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251009151942NAL0004035203001, received 2025-10-09
Administrative expenses as a share of assets
0.646%
Higher than 63% of the 15,243 plans $1 to 10M that report it.
= $62,039 / $9,600,031
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251009151942NAL0004035203001, received 2025-10-09
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251009151942NAL0004035203001, received 2025-10-09
Employer contributions per participant
$3,222
Higher than 93% of the 13,342 plans $1 to 10M that report it.
= $476,834 / 148
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251009151942NAL0004035203001, received 2025-10-09
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251009151942NAL0004035203001, received 2025-10-09
Employer share of total contributions
33.8%
Higher than 67% of the 13,370 plans $1 to 10M that report it.
= $476,834 / $1,411,729
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251009151942NAL0004035203001, received 2025-10-09
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251009151942NAL0004035203001, received 2025-10-09
Plan terms are not published in public filings.
2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2T default investment (QDIA) · 3D IRS pre-approved plan · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20251009151942NAL0004035203001, received 2025-10-09
| Field | Value | Source |
|---|---|---|
| Plan sponsor | GROVE BANK & TRUST | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Plan name | GROVE BANK & TRUST 401(K) PROFIT SHARING PLAN | Form 5500, line 1a; PLAN_NAME pos 16; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Sponsor EIN / plan number | 59-0199400 / 003 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Sponsor location | MIAMI, FL | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Industry (business code) | 522110, Finance and insurance | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Filing received | 2025-10-09 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Participants, beginning of year | 144 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Active participants | 108 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Participants, end of year | 151 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Participants with an account balance | 148 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Total assets, beginning of year | $8,624,885 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Total assets, end of year | $9,600,031 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Net assets, end of year | $9,600,031 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Total income | $2,573,460 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Net income | $990,760 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Employer contributions | $476,834 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Participant contributions | $858,439 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Other contributions (incl. rollovers) | $76,456 | Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Total contributions | $1,411,729 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Benefit payments | $1,486,878 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Total expenses (incl. benefit payments) | $1,582,700 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Total administrative expenses | $62,039 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Contract administrator fees | $11,529 | Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Recordkeeping fees | $25,532 | Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Investment advisory and management fees | $24,978 | Schedule H, line 2i(5); INVST_MGMT_FEES_AMT pos 107; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Administrative expenses excluding investment management | $37,061 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Held in common/collective trusts | $810,884 | Schedule H, line 1c(9) col (b); INT_COMMON_TR_EOY_AMT pos 51; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Held in mutual funds | $8,534,024 | Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20251009151942NAL0004035203001, received 2025-10-09 |
| Independent auditor | BDO USA, P.C. | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20251009151942NAL0004035203001, received 2025-10-09 |
Position = column in the DOL layout for form year 2024. Filing 20251009151942NAL0004035203001, received 2025-10-09.
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| EMPOWER ANNUITY INSURANCE COMPANYrecordkeeper | RECORDKEEPER | 64 Recordkeeping fees | $25,532 | yes |
| ONEDIGITAL INVESTMENT ADVISORS LLC | INVESTMENT ADVISOR | 27 Investment advisory (plan) | $22,822 | no |
| DEFINITI LLC | CONTRACT ADMIN | 13 Contract administrator | $7,575 | yes |
| EMPOWER ADVISORY GROUP, LLC | INVESTMENT MGMT | 28 Investment management | $2,157 | no |
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20251009151942NAL0004035203001, received 2025-10-09.
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $8,624,885 | $9,600,031 | 11.3% |
| Participants with a balance | 140 | 148 | 5.7% |
| Administrative expenses | $58,787 | $62,039 | 5.5% |
| Recordkeeping fees per participant | $161.90 | $172.51 | 6.6% |
| Employer contributions | $442,774 | $476,834 | 7.7% |
Prior filing 20241015125425NAL0029693825002, received 2024-10-15; the plan years are contiguous.
Sponsor name as filed: GROVE BANK & TRUST; SEC registrant: Grove Bank & Trust (CIK 1662212, matched by EIN).