Retirement plan

COASTAL STATES BANK 401(K) PLAN

Name: COASTAL STATES BANK - COASTAL STATES BANK 401(K) PLAN (2021) Form 5500
Creator: COASTAL STATES BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, COASTAL STATES BANK 401(K) PLAN, COASTAL STATES BANK

COASTAL STATES BANKEIN 03-0546702Plan #101PY 2021

5 BOW CIRCLE - HILTON HEAD ISLAND, SC 29928770-203-4613LinkedIn11-50 employeesoil & energy

Prospect flagsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$12.8M

+25.9% from 2020

Total participants

222

+26.9% from 2020

Average account balance

$61,975

+0.3% from 2020

Annual return

15.94%

-3.57 pp from 2020

Benchmarks

See 2,179 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,179 peers

Snapshot2021

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$22.54M

Not enough data

1 years with asset history on file

Average account balance

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

$99K

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.

227

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.

96.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.83M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+16.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$489

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY3 years Service code 13 · EIN 42-0127290	Contract Administrator	$35,619
CLEARVIEW GROUP2 years Filed as: CLEARVIEW ADVISORY Service code 27 · EIN 27-2579538	Advisory (Plan)	$32,563
ORENDA RETIREMENT, LLC2 years Filed as: ORENDA RETIREMENT LLC Service code 13 · EIN 36-4877979	Contract Administrator	$21,287
COULTER & JUSTUS2 years Filed as: COULTER & JUSTUS PC Service code 10 · EIN 62-1532536	Accounting	$10,000

Plan features & details

Pension benefit codes2A2E2J2K2F2G3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$80K

$483 / participant

Investment mgmt$33K40.6%
Contract admin$38K46.9%
Other / not subdivided$10K12.5%

% of EOY assets

0.625%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: COULTER & JUSTUS
Auditor EIN: 621532536
Audit fees: (not subdivided)
Opinion code: Unqualified

Look up a plan sponsor by EIN. Free Form 5500 search. No signup.

Metric

This plan

Peer set

Industry

Size

Avg account balance

$61,975

$121,341-48.9%

$189,513-67.3%

$79,386-21.9%

Participation rate

91.0%

86.1%+4.9pp

87.8%+3.2pp

70.7%+20.3pp

Annual return

15.94%

21.08%-5.1pp

555.15%-539.2pp

116.85%-100.9pp

Employer contribution / active EE

$2,875

$3,915-26.5%

$6,162-53.3%

$2,427+18.5%

Participant deferral / active EE

$7,242

$6,395+13.2%

$8,221-11.9%

$4,046+79.0%

Admin fee / account holder

$387

$651-40.5%

$12,045-96.8%

$626-38.1%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY3 years

Service code 13 · EIN 42-0127290

Contract Administrator

$35,619

CLEARVIEW GROUP2 years

Filed as: CLEARVIEW ADVISORY

Service code 27 · EIN 27-2579538

Advisory (Plan)

$32,563

ORENDA RETIREMENT, LLC2 years

Filed as: ORENDA RETIREMENT LLC

Service code 13 · EIN 36-4877979

Contract Administrator

$21,287

COULTER & JUSTUS2 years

Filed as: COULTER & JUSTUS PC

Service code 10 · EIN 62-1532536

Accounting

$10,000

COASTAL STATES BANK 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

COASTAL STATES BANK 401(K) 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