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BANK OF MILTON 401K PROFIT SHARING PLAN & TRUST 401k Plan overview

Plan NameBANK OF MILTON 401K PROFIT SHARING PLAN & TRUST
Plan identification number 002

BANK OF MILTON 401K 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

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

Company Name:BANK OF MILTON
Employer identification number (EIN):390147920
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan BANK OF MILTON 401K PROFIT SHARING PLAN & TRUST

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0022023-01-01NICK RICE2024-08-12
0022022-01-01JANIS FRANK2023-03-13
0022021-01-01JANIS FRANK2022-03-04
0022020-01-01JANIS FRANK2021-08-24
0022019-01-01JANIS FRANK2020-06-27
0022018-01-01JANIS FRANK2019-09-05
0022017-01-01JANIS FRANK2018-09-26
0022016-01-01JANIS FRANK2017-06-19
0022015-01-01JANIS FRANK2016-06-27
0022014-01-01JANIS FRANK2015-05-27
0022013-01-01JANIS FRANK2014-05-08
0022012-01-01JANIS FRANK2013-09-26
0022011-01-01JANIS FRANK2012-06-27
0022010-01-01DANIEL M. HONOLD2011-08-10

Financial Data on BANK OF MILTON 401K PROFIT SHARING PLAN & TRUST

Measure Date Value
2025 : BANK OF MILTON 401K PROFIT SHARING PLAN & TRUST 2025 401k financial data
Total expenses incurred by plan in this plan year2025-07-1815162
Net assets as of the end of the plan year2025-07-186288000
Total assets as of the beginning of the plan year2025-07-185505823
Value of plan covered by a fidelity bond2025-07-18500000
Participant contributions to plan in this plan year2025-07-18139812
Value of participant loans at end of plan year2025-07-185664
Other income to plan in this plan year2025-07-18557661
Plan net income in this plan year2025-07-18782177
Net assets as of the end of the plan year2025-07-186288000
Net assets as of the beginning of the plan year2025-07-185505823
Employer contributions to plan in this plan year2025-07-1899866
Expensese paid to adminstrative service provicers from plan in this plan year2025-07-187769
2024 : BANK OF MILTON 401K PROFIT SHARING PLAN & TRUST 2024 401k financial data
Total expenses incurred by plan in this plan year2024-08-1270125
Net assets as of the end of the plan year2024-08-125505823
Total assets as of the beginning of the plan year2024-08-124441085
Value of plan covered by a fidelity bond2024-08-12445000
Participant contributions to plan in this plan year2024-08-12120083
Value of participant loans at end of plan year2024-08-1213133
Other contributions to plan in this plan year2024-08-12191083
Other income to plan in this plan year2024-08-12740426
Plan net income in this plan year2024-08-121064738
Net assets as of the end of the plan year2024-08-125505823
Net assets as of the beginning of the plan year2024-08-124441085
Employer contributions to plan in this plan year2024-08-1283271
Expensese paid to adminstrative service provicers from plan in this plan year2024-08-121017
2022 : BANK OF MILTON 401K PROFIT SHARING PLAN & TRUST 2022 401k financial data
Total expenses incurred by plan in this plan year2022-03-0424543
Net assets as of the end of the plan year2022-03-045071702
Total assets as of the beginning of the plan year2022-03-044117943
Value of plan covered by a fidelity bond2022-03-04500000
Participant contributions to plan in this plan year2022-03-04111446
Other income to plan in this plan year2022-03-04773731
Plan net income in this plan year2022-03-04953759
Net assets as of the end of the plan year2022-03-045071702
Net assets as of the beginning of the plan year2022-03-044117943
Employer contributions to plan in this plan year2022-03-0493125
Expensese paid to adminstrative service provicers from plan in this plan year2022-03-04390

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