PARTNERS BANK 401(K) SAVINGS PLAN

At the end of 2022, the total retirement plan assets of PARTNERS BANK 401(K) SAVINGS PLAN is $19,132,126.This plan was established in 1997.

At the end of 2022, the total number of retirement plan participants in PARTNERS BANK 401(K) SAVINGS PLAN is 161

In 2022, the average participant retirement account value for PARTNERS BANK 401(K) SAVINGS PLAN is $118,833

In 2022, the estimated average employee contribution amount per participant for PARTNERS BANK 401(K) SAVINGS PLAN is $5,023

In 2022, the estimated average employer match for an employee in PARTNERS BANK 401(K) SAVINGS PLAN is approximately $6,197

In 2022, PARTNERS BANK 401(K) SAVINGS PLAN allocates $997,775 to match its employees’ contributions, providing an employer match rate of 131.55% of their contributions

In 2022, the total retirement plan asset growth rate of PARTNERS BANK 401(K) SAVINGS PLAN is -17.27%

In 2022, the estimated aggregate retirement account investment gain/loss for PARTNERS BANK 401(K) SAVINGS PLAN is -19.79%. This measures the effectiveness of the plan participants’ investments in the year.

In 2022, the investment and administrative expense ratio of PARTNERS BANK 401(K) SAVINGS PLAN is 0.19%.

Enrollment Features

PARTNERS BANK 401(K) SAVINGS 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.