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Original filing (PDF)20250731103901NAL0002511107001
MAINE BANKERS ASSOCIATION
Form 5500
FILING_RECEIVED
MAINE BANKERS ASSOCIATION EMPLOYEE BENEFIT PLAN
Health & welfare plan
Signals · 3
~1495 bps in Sched C feesNo recordkeeper disclosed10 service providers
Active participants
2,710
Accounts w/ balance
—
Plan assets (EOY)
$12.0M
Net assets (EOY)
$10.7M
How this plan invests
This plan
19 securities
funds · stocks · CUSIPs
Holdings are itemized directly on this plan's Schedule of Assets, below.
Plan health score (directional)
89
/ 100
Grade A
Top-tier plan health
Directional indicator computed from public Form 5500 data — compliance, concentration, cost, vendor stack and participation. Not a fiduciary tool.
Compliance & disclosures
100
Concentration risk
100
Total plan cost
65
Vendor stack
80
Participation health
100
Knocking points off
- 1495 bps in Schedule C fees — 5055% above peer band of 29 bps.
- No recordkeeper disclosed on Schedule C.
Decision-maker contacts
CFO / Head of HR / Benefits Manager — verified email + LinkedIn for MAINE BANKERS ASSOCIATION.
Plan sponsor
Name
MAINE BANKERS ASSOCIATION
EIN
01-0155360
Address
2 THOMAS DRIVE · WESTBROOK, ME · 04092
Phone
(207) 791-8400
Industry
Finance & Insurancesee all
Plan administrator
Same as plan sponsor.
Plan characteristics
Plan number
502
Plan year
2024
Plan year begin
2024-01-01
Tax period
2024-12-31
Filed
2025-07-31
Welfare benefit codes
4A · Health (other than dental or vision)
4B · Life Insurance
4D · Dental
4E · Vision
4F · Temporary Disability (accident and sickness)
4H · Long-Term Disability
4Q · Other
Audit & trust (Schedule H)
Auditor
BDMP ASSURANCE, LLP
Trustee / custodian
—
Trustee phone
—
Service providers (Schedule C)
10 rowsOther
10| Name | EIN | Location | Relation | Direct comp | Indirect comp |
|---|---|---|---|---|---|
| MAINE BANKERS ASSOCIATION | 01-0155360 | — | PLAN SPONSOR | $865K | — |
| WELLNESS WORKDAYS | 04-3522115 | — | SERVICE PROVIDER | $503K | — |
| HELLO HEART | 82-3489727 | — | SERVICE PROVIDER | $179K | — |
| BUSINESS SOLVER | 42-1503807 | — | SERVICE PROVIDER | $108K | — |
| BERRYDUNN | 01-0391345 | — | PROFESSIONAL SERVICES | $52K | — |
| HEALTH AXIS | 45-5531595 | — | SERVICE PROVIDER | $33K | — |
| ASSOCIATION SERVICES, INC. | 01-0507289 | — | AFFILIATE OF PLAN SPONSOR | $19K | — |
| LEARN YOUR WORK LIFE | 81-1653682 | — | SERVICE PROVIDER | $14K | — |
| NOVAREST | 45-0462799 | — | SERVICE PROVIDER | $13K | — |
| WEX | 22-3339704 | — | SERVICE PROVIDER | $8K | — |
Investments
14 direct securities· $5.0M(42% of reported assets)
| PI | Investment | Type | Shares / units | Cost | Current value | % of plan |
|---|---|---|---|---|---|---|
| Treasury Bill, MAT 01/15/2025, U.S. Department of the Treasury 1.125% $1,500,000 par value | — | — | $1.5M | $1.5M | 12.6% | |
| Treasury Bill, MAT 8/31/2025, U.S. Department of the Treasury 5.000% $1,000,000 par value | — | — | $1000K | $1.0M | 8.5% | |
| Aroostook County Savings & Loan CD, MAT 04/14/2028, 4.10% | — | — | $245K | $255K | 2.1% | |
| First National Bank CD, MAT 02/24/2025, 4.88% | — | — | $243K | $255K | 2.1% | |
| Mechanics Savings Bank CD, MAT 03/22/2025, 3.92% | — | — | $245K | $255K | 2.1% | |
| Franklin Savings Bank CD, MAT 04/13/2025, 4.31% | — | — | $245K | $250K | 2.1% | |
| First Federal Savings CD, MAT 05/27/2025, 4.70% | — | — | $245K | $249K | 2.1% | |
| Rockland Savings Bank CD, MAT 02/27/2025, 4.34% | — | — | $245K | $249K | 2.1% | |
| Bath Savings Bank CD, MAT 12/4/2025, 4.00% | — | — | $245K | $248K | 2.1% | |
| Kennebec Federal Savings CD, MAT 08/01/2025, 3.68% | — | — | $245K | $246K | 2.0% | |
| Northeast Bank CD, MAT 09/20/2025, 1.00% | — | — | $245K | $235K | 2.0% | |
| Saco & Biddeford Savings Institution CD, MAT 11/02/2025, 3.06% | — | — | $127K | $134K | 1.1% | |
| Saco & Biddeford Savings Institution CD, MAT 07/07/2025, 4.00% | — | — | $115K | $121K | 1.0% | |
| 16550730 757052 110778AC.502 | — | — | — | $2K | <0.1% |