Orrstown Bank 401(k) Review & Grade
Orrstown Bank 401(k) Plan
Chambersburg, PAFinance & Insurance527 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,275Employer $ per active participant
$6,617Employee $ saved per active participant
0.04%Direct admin cost, % of plan assets
$51.7MNet plan assets, end of year
$67,141Average balance per account
Score breakdown
- Employer generosity12.7 / 5025th percentile for employer $ per participant
- Low cost22.5 / 2590th percentile for low admin cost vs. same-size plans
- Employee saving6.7 / 1545th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score49 / 100 · Grade C
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 25th |
| Lower admin cost | 90th |
| Employee saving | 45th |
| Peers that auto-enroll | 62% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $2,092 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Orrstown Bank put in about $2,275 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 | $1,199,034 |
| Participant (employee) contributions | $3,486,905 |
| Other contributions (incl. rollovers in) | $12,800,718 |
| Administrative expenses paid from the plan | $18,086 |
| Contract administrator fees | $14,955 |
| Investment advisory & management fees | $1,976 |
| Other admin expenses | $1,155 |
| Benefits paid out | $6,052,697 |
| Net assets, start / end of year | $34.8M / $51.7M |
| Active participants, start / end of year | 429 / 625 |
| Participants with account balances | 770 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | RKL LLP |
Largest service providers (Schedule C)
| Lifestyle Retirement Company | $19,177 reported compensation |
| Voya Retirement Insur & Annuity | $14,955 reported compensation |
| Morningstar | $6,339 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250718191552NAL0001047411001, received 2025-07-18, EIN 23-0934350, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.