401k Record

Employers › Norway Savings Bank

Norway Savings Bank 401(k)

Recordkeeping fees per participant · Norway Savings Bank 401(k) Plan · plan year 2024

$101.55

Higher than 74% of the 5,847 plans $50 to 250M that report it.

Source

= $38,895 / 383
Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20250728051425NAL0001148417001, received 2025-07-28
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250728051425NAL0001148417001, received 2025-07-28

10th: $10.22median $69.9190th: $151.08

Percentiles compare this plan with the Schedule H plans $50 to 250M 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 2025-07-28.

Cost and contributions

Administrative expenses excluding investment management, per participant

$101.55

10th: $16.21median $93.2090th: $246.84

Higher than 55% of the 8,758 plans $50 to 250M that report it.

Source

= $38,895 / 383
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250728051425NAL0001148417001, received 2025-07-28
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250728051425NAL0001148417001, received 2025-07-28

Administrative expenses per participant

$179.59

10th: $29.39median $132.8490th: $350.58

Higher than 66% of the 9,042 plans $50 to 250M that report it.

Source

= $68,783 / 383
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250728051425NAL0001148417001, received 2025-07-28
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250728051425NAL0001148417001, received 2025-07-28

Administrative expenses as a share of assets

0.124%

10th: 0.022%median 0.136%90th: 0.326%

Higher than 46% of the 9,049 plans $50 to 250M that report it.

Source

= $68,783 / $55,451,364
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250728051425NAL0001148417001, received 2025-07-28
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250728051425NAL0001148417001, received 2025-07-28

Employer contributions per participant

$4,936

10th: $965median $2,73890th: $8,164

Higher than 77% of the 9,105 plans $50 to 250M that report it.

Source

= $1,890,525 / 383
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250728051425NAL0001148417001, received 2025-07-28
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250728051425NAL0001148417001, received 2025-07-28

Employer share of total contributions

44.2%

10th: 15.6%median 29.5%90th: 50.6%

Higher than 83% of the 9,112 plans $50 to 250M that report it.

Source

= $1,890,525 / $4,274,419
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250728051425NAL0001148417001, received 2025-07-28
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250728051425NAL0001148417001, received 2025-07-28

Plan terms, as stated in Norway Savings Bank's SEC filings

Plan terms are not published in public filings.

Plan features

2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2J 401(k) feature · 2K 401(m) arrangement · 2S pre-approved plan document · 2T default investment (QDIA) · 3D IRS pre-approved plan · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20250728051425NAL0001148417001, received 2025-07-28

Full record, Norway Savings Bank 401(k) Plan

FieldValueSource
Plan sponsorNORWAY SAVINGS BANKForm 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250728051425NAL0001148417001, received 2025-07-28
Plan nameNORWAY SAVINGS BANK 401(K) PLANForm 5500, line 1a; PLAN_NAME pos 16; filing 20250728051425NAL0001148417001, received 2025-07-28
Sponsor EIN / plan number01-0130870 / 002Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250728051425NAL0001148417001, received 2025-07-28
Plan typesingle-employerForm 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250728051425NAL0001148417001, received 2025-07-28
Sponsor locationNORWAY, MEForm 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250728051425NAL0001148417001, received 2025-07-28
Industry (business code)522120, Finance and insuranceForm 5500, line 2d; BUSINESS_CODE pos 46; filing 20250728051425NAL0001148417001, received 2025-07-28
Plan year2024-01-01 to 2024-12-31Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20250728051425NAL0001148417001, received 2025-07-28
Filing received2025-07-28Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250728051425NAL0001148417001, received 2025-07-28
Final filingnoForm 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250728051425NAL0001148417001, received 2025-07-28
Amended filingnoForm 5500, Part I line B; AMENDED_IND pos 7; filing 20250728051425NAL0001148417001, received 2025-07-28
Participants, beginning of year379Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250728051425NAL0001148417001, received 2025-07-28
Active participants274Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250728051425NAL0001148417001, received 2025-07-28
Participants, end of year386Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250728051425NAL0001148417001, received 2025-07-28
Participants with an account balance383Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250728051425NAL0001148417001, received 2025-07-28
Total assets, beginning of year$49,279,599Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250728051425NAL0001148417001, received 2025-07-28
Total assets, end of year$55,451,364Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250728051425NAL0001148417001, received 2025-07-28
Net assets, end of year$55,451,364Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250728051425NAL0001148417001, received 2025-07-28
Total income$10,609,312Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250728051425NAL0001148417001, received 2025-07-28
Net income$6,171,765Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250728051425NAL0001148417001, received 2025-07-28
Employer contributions$1,890,525Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250728051425NAL0001148417001, received 2025-07-28
Participant contributions$1,871,572Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250728051425NAL0001148417001, received 2025-07-28
Other contributions (incl. rollovers)$512,322Schedule H, line 2a(1)(C); OTH_CONTRIB_RCVD_AMT pos 70; filing 20250728051425NAL0001148417001, received 2025-07-28
Total contributions$4,274,419Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250728051425NAL0001148417001, received 2025-07-28
Benefit payments$4,300,458Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250728051425NAL0001148417001, received 2025-07-28
Total expenses (incl. benefit payments)$4,437,547Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250728051425NAL0001148417001, received 2025-07-28
Total administrative expenses$68,783Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250728051425NAL0001148417001, received 2025-07-28
Recordkeeping fees$38,895Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20250728051425NAL0001148417001, received 2025-07-28
Investment advisory and management fees$29,888Schedule H, line 2i(5); INVST_MGMT_FEES_AMT pos 107; filing 20250728051425NAL0001148417001, received 2025-07-28
Administrative expenses excluding investment management$38,895derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250728051425NAL0001148417001, received 2025-07-28
Held in mutual funds$53,516,020Schedule H, line 1c(13) col (b); INT_REG_INVST_CO_EOY_AMT pos 55; filing 20250728051425NAL0001148417001, received 2025-07-28
Independent auditorBDMP ASSURANCE, LLPSchedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250728051425NAL0001148417001, received 2025-07-28

Position = column in the DOL layout for form year 2024. Filing 20250728051425NAL0001148417001, received 2025-07-28.

Service providers paid directly by the plan

ProviderRelationshipService codesDirect compensationIndirect
ADP, INC.recordkeeperRECORD KEEPER 37 Participant loan processing; 50 Direct payment from the plan; 15 Recordkeeping and information management; 64 Recordkeeping fees $38,895yes
MERRILL LYNCH PIERCE FENNER & SMITHrecordkeeperINVESTMENT ADVISOR 52 Investment management fees paid indirectly by plan; 60 Sub-transfer agency fees; 15 Recordkeeping and information management; 17 Consulting (pension); 50 Direct payment from the plan; 64 Recordkeeping fees; 70 Consulting fees $29,888yes
ADP BROKER-DEALERrecordkeeperRECORD KEEPER 49 Other services; 99 Other fees $0yes

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 20250728051425NAL0001148417001, received 2025-07-28.

What changed since the 2023 plan year

Figure20232024Change
Total assets$49,279,599$55,451,36412.5%
Participants with a balance3673834.4%
Administrative expenses$70,670$68,783-2.7%
Recordkeeping fees per participant$107.98$101.55-6.0%
Employer contributions$1,925,663$1,890,525-1.8%

Prior filing 20240731101931NAL0022072049001, received 2024-07-31; the plan years are contiguous.

Alerts, claims and corrections

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Sponsor name as filed: NORWAY SAVINGS BANK; SEC registrant: Norway Savings Bank (CIK 1692227, matched by EIN).