Camden National Corporation 401(k) Review & Grade
Camden National Corporation Retirement Savings 401(k) Plan
Camden, MEFinance & Insurance590 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,977Employer $ per active participant
$6,127Employee $ saved per active participant
0.13%Direct admin cost, % of plan assets
$86.8MNet plan assets, end of year
$101,894Average balance per account
Score breakdown
- Employer generosity19.4 / 5039th percentile for employer $ per participant
- Low cost16.9 / 2568th percentile for low admin cost vs. same-size plans
- Employee saving5.5 / 1536th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score52 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 39th |
| Lower admin cost | 68th |
| Employee saving | 36th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Camden National put in about $2,977 per active participant, below the typical peer ($3,606). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $1,756,476 |
| Participant (employee) contributions | $3,614,884 |
| Other contributions (incl. rollovers in) | $452,817 |
| Administrative expenses paid from the plan | $107,068 |
| Benefits paid out | $10,874,790 |
| Net assets, start / end of year | $80.7M / $86.8M |
| Active participants, start / end of year | 601 / 579 |
| Participants with account balances | 852 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Bdmp Assurance LLP |
Largest service providers (Schedule C)
| Transamerica Retirement Solutions | $107,068 reported compensation |
| National Financial Services | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014121434NAL0005861074002, received 2025-10-14, EIN 01-0413282, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.