BAR HARBOR BANKSHARES 401K PLAN

At the end of 2022, the total retirement plan assets of BAR HARBOR BANKSHARES 401K PLAN is $47,418,798.This plan was established in 1988.

At the end of 2022, the total number of retirement plan participants in BAR HARBOR BANKSHARES 401K PLAN is 698

In 2022, the average participant retirement account value for BAR HARBOR BANKSHARES 401K PLAN is $67,935

In 2022, the estimated average employee contribution amount per participant for BAR HARBOR BANKSHARES 401K PLAN is $3,933

In 2022, the estimated average employer match for an employee in BAR HARBOR BANKSHARES 401K PLAN is approximately $1,912

In 2022, BAR HARBOR BANKSHARES 401K PLAN allocates $1,335,059 to match its employees’ contributions, providing an employer match rate of 47.64% of their contributions

In 2022, the total retirement plan asset growth rate of BAR HARBOR BANKSHARES 401K PLAN is -13.84%

In 2022, the estimated aggregate retirement account investment gain/loss for BAR HARBOR BANKSHARES 401K PLAN is -12.57%. This measures the effectiveness of the plan participants’ investments in the year.

In 2022, the investment and administrative expense ratio of BAR HARBOR BANKSHARES 401K PLAN is 0.10%.

Enrollment Features

BAR HARBOR BANKSHARES 401K PLAN has the following features:
    Automatic Enrollment: It provides automatic enrollment with elective contributions deducted from payroll.
    Default Investments: It uses a default investment account for participants or employees who fail to direct assets in their account.