Retirement plan

SANFORD INSTITUTION FOR SAVINGS 401(K) SAVINGS PLAN

Name: PARTNERS BANK - SANFORD INSTITUTION FOR SAVINGS 401(K) SAVINGS PLAN (2018) Form 5500
Creator: PARTNERS BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SANFORD INSTITUTION FOR SAVINGS 401(K) SAVINGS PLAN, PARTNERS BANK

PARTNERS BANKEIN 01-0154810Plan #002PY 2018

900 MAIN STREET - SANFORD, ME 04073207-324-2285partnersbankonline.comLinkedIn51-200 employeesbanking

Other plans on this EIN

1 filing

#001Retirement-$13.4M assets

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$13.1M

-6.6% from 2017

Total participants

132

+0.8% from 2017

Average account balance

$101,189

-10.9% from 2017

Annual return

-7.50%

-29.89 pp from 2017

Benchmarks

See 2,193 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,193 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$27.41M

Not enough data

1 years with asset history on file

Average account balance

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

$178K

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.

154

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.

75.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.15M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+17.67%

Not enough data

1 years with return on file

Admin fee / account holder

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

$251

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

Top 1 by compensation

Provider	Service type	Compensation
PENTEGRA SERVICES, INC.1 year Filed as: PENTEGRA SERVICES, INC Service code 15 · EIN 13-3745616 701 WESTCHESTER AVE · WHITE PLAINS, NY 10604	Recordkeeping	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$46K

$423 / participant

Contract admin$46K100.0%

% of EOY assets

0.350%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$101,189

$79,523+27.2%

$140,019-27.7%

$56,289+79.8%

Participation rate

97.2%

85.7%+11.5pp

87.5%+9.7pp

69.9%+27.4pp

Annual return

-7.50%

2.39%-9.9pp

651.17%-658.7pp

-9.96%+2.5pp

Employer contribution / active EE

$7,117

$3,350+112.4%

$5,605+27.0%

$2,111+237.1%

Participant deferral / active EE

$5,193

$5,129+1.2%

$6,927-25.0%

$3,350+55.0%

Admin fee / account holder

$355

$614-42.3%

$10,705-96.7%

$521-31.9%

Provider

Service type

Compensation

PENTEGRA SERVICES, INC.1 year

Filed as: PENTEGRA SERVICES, INC

Service code 15 · EIN 13-3745616

701 WESTCHESTER AVE · WHITE PLAINS, NY 10604

Recordkeeping

SANFORD INSTITUTION FOR SAVINGS 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SANFORD INSTITUTION FOR SAVINGS 401(K) SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion