Retirement plan

SBERA 401(K) PLAN AS ADOPTED BY CAPE ANN SAVINGS

Name: CAPE ANN SAVINGS BANK - SBERA 401(K) PLAN AS ADOPTED BY CAPE ANN SAVINGS (2020) Form 5500
Creator: CAPE ANN SAVINGS BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SBERA 401(K) PLAN AS ADOPTED BY CAPE ANN SAVINGS, CAPE ANN SAVINGS BANK

CAPE ANN SAVINGS BANKEIN 04-1148820Plan #002PY 2020

109 MAIN STREET - GLOUCESTER, MA 01930978-283-0246capeannsavingsbank.comLinkedIn51-200 employeesbanking

Other plans on this EIN

1 filing

#001Retirement-$15.5M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$10.5M

+20.6% from 2019

Total participants

-4.3% from 2019

Average account balance

$132,773

+23.6% from 2019

Annual return

16.25%

-6.90 pp from 2019

Benchmarks

See 7,209 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,209 peers

Snapshot2020

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

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Analytics

Total assets (EOY)

Plan-year ending balance

$13.88M

Not enough data

1 years with asset history on file

Average account balance

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

$173K

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.

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.

70.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$637K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+14.85%

Not enough data

1 years with return on file

Admin fee / account holder

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

$14967

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

0 years with F_SCH_H allocation on file

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

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 codes2E2F2G2J3D2T

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.
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.
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

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$64K

$931 / participant

Other / not subdivided$64K100.0%

% of EOY assets

0.612%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$132,773

$123,793+7.3%

$177,821-25.3%

$79,858+66.3%

Participation rate

84.1%

84.7%-0.6pp

87.7%-3.7pp

69.6%+14.4pp

Annual return

16.25%

22.82%-6.6pp

48.32%-32.1pp

31.71%-15.5pp

Employer contribution / active EE

$4,095-100.0%

$5,918-100.0%

$2,471-100.0%

Participant deferral / active EE

$6,401

$5,956+7.5%

$7,714-17.0%

$3,740+71.1%

Admin fee / account holder

$813

$7,243-88.8%

$12,427-93.5%

$5,306-84.7%

SBERA 401(K) PLAN AS ADOPTED BY CAPE ANN SAVINGS

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SBERA 401(K) PLAN AS ADOPTED BY CAPE ANN SAVINGS

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