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FREEDOM BANK 401 K PROFIT SHARING PLAN TRUST 401k Plan overview

Plan NameFREEDOM BANK 401 K PROFIT SHARING PLAN TRUST
Plan identification number 001

FREEDOM BANK 401 K PROFIT SHARING PLAN TRUST Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Code section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contribtions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
  • Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

401k Sponsoring company profile

FREEDOM BANK has sponsored the creation of one or more 401k plans.

Company Name:FREEDOM BANK
Employer identification number (EIN):261916460
NAIC Classification:522120
NAIC Description:Savings Institutions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan FREEDOM BANK 401 K PROFIT SHARING PLAN TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0012023-01-01ANDREW GERMANN2024-05-15
0012022-01-01ANDREW GERMANN2023-05-05
0012021-01-01ANDREW GERMANN2022-04-22
0012020-01-01JOEL SWEREN2021-05-13
0012019-01-01JOEL SWEREN2020-09-17
0012018-01-01JOEL SWEREN2019-02-27
0012017-01-01JOEL SWEREN2018-08-15
0012016-01-01JOEL SWEREN2017-10-13
0012016-01-01JOEL SWEREN2017-10-13
0012015-01-01JOEL SWEREN2016-06-27
0012014-01-01JOEL C. SWEREN2015-06-19
0012013-01-01JOEL C. SWEREN2014-05-16
0012012-01-01FREEDOM BANK2013-06-25
0012011-01-01FREEDOM BANK2012-06-18
0012010-01-01FREEDOM BANK2011-07-11

Financial Data on FREEDOM BANK 401 K PROFIT SHARING PLAN TRUST

Measure Date Value
2025 : FREEDOM BANK 401 K PROFIT SHARING PLAN TRUST 2025 401k financial data
Total expenses incurred by plan in this plan year2025-05-29378227
Net assets as of the end of the plan year2025-05-294721332
Total assets as of the beginning of the plan year2025-05-294194175
Value of plan covered by a fidelity bond2025-05-297000000
Participant contributions to plan in this plan year2025-05-29369131
Value of participant loans at end of plan year2025-05-29107420
Other income to plan in this plan year2025-05-29391822
Plan net income in this plan year2025-05-29527157
Net assets as of the end of the plan year2025-05-294721332
Net assets as of the beginning of the plan year2025-05-294194175
Employer contributions to plan in this plan year2025-05-29144431
Fees paid to broker by Benefit Provider2025-05-294548
Expensese paid to adminstrative service provicers from plan in this plan year2025-05-2928599
2024 : FREEDOM BANK 401 K PROFIT SHARING PLAN TRUST 2024 401k financial data
Total expenses incurred by plan in this plan year2024-05-15217645
Net assets as of the end of the plan year2024-05-154194175
Total assets as of the beginning of the plan year2024-05-153441256
Value of plan covered by a fidelity bond2024-05-157000000
Participant contributions to plan in this plan year2024-05-15330544
Value of participant loans at end of plan year2024-05-1570167
Other contributions to plan in this plan year2024-05-153955
Other income to plan in this plan year2024-05-15428268
Plan net income in this plan year2024-05-15752919
Net assets as of the end of the plan year2024-05-154194175
Net assets as of the beginning of the plan year2024-05-153441256
Employer contributions to plan in this plan year2024-05-15207797
Fees paid to broker by Benefit Provider2024-05-153789
Expensese paid to adminstrative service provicers from plan in this plan year2024-05-1522301
2022 : FREEDOM BANK 401 K PROFIT SHARING PLAN TRUST 2022 401k financial data
Total expenses incurred by plan in this plan year2022-04-22187810
Net assets as of the end of the plan year2022-04-223507420
Total assets as of the beginning of the plan year2022-04-222654168
Value of plan covered by a fidelity bond2022-04-224000000
Participant contributions to plan in this plan year2022-04-22306108
Value of participant loans at end of plan year2022-04-2279434
Other contributions to plan in this plan year2022-04-2229925
Other income to plan in this plan year2022-04-22346156
Plan net income in this plan year2022-04-22853252
Net assets as of the end of the plan year2022-04-223507420
Net assets as of the beginning of the plan year2022-04-222654168
Employer contributions to plan in this plan year2022-04-22358873
Fees paid to broker by Benefit Provider2022-04-2220120
Expensese paid to adminstrative service provicers from plan in this plan year2022-04-2221780

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