Retirement plan

BATH SAVINGS INSTITUTION 401(K) PLAN

Name: BATH SAVINGS INSTITUTION - BATH SAVINGS INSTITUTION 401(K) PLAN (2015) Form 5500
Creator: BATH SAVINGS INSTITUTION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BATH SAVINGS INSTITUTION 401(K) PLAN, BATH SAVINGS INSTITUTION

BATH SAVINGS INSTITUTIONEIN 01-0026120Plan #002PY 2015

P.O. BOX 548 - BATH, ME 04530207-443-6296bathsavings.bankLinkedIn51-200 employeesbanking

Other plans on this EIN

1 filing

#001Retirement-$22.8M assets

Prospect flagsLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$12M

No prior year

Total participants

166

No prior year

Average account balance

$79,665

No prior year

Annual return

8.72%

No prior year

Benchmarks

See 2,156 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,156 peers

Snapshot2015

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$37.34M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$196K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

191

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

88.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.48M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+10.54%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2F2G2J2K3D3H

Plan features

2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
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 contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: BAKER NEWMAN & NOYES
Auditor EIN: 010494526
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$79,665

$70,667+12.7%

$123,105-35.3%

$52,331+52.2%

Participation rate

89.4%

83.7%+5.7pp

86.8%+2.7pp

68.1%+21.3pp

Annual return

8.72%

6.23%+2.5pp

13.22%-4.5pp

4.54%+4.2pp

Employer contribution / active EE

$991

$2,946-66.4%

$5,151-80.8%

$1,882-47.4%

Participant deferral / active EE

$4,105

$4,493-8.6%

$6,229-34.1%

$3,022+35.8%

Admin fee / account holder

$506-100.0%

$9,014-100.0%

$592-100.0%

BATH SAVINGS INSTITUTION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

BATH SAVINGS INSTITUTION 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion