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 (2022) 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 2022

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

Other plans on this EIN

1 filing

#001Retirement-$11.6M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$8.9M

-18.1% from 2021

Total participants

100

+2.0% from 2021

Average account balance

$116,712

-17.0% from 2021

Annual return

-16.66%

-31.21 pp from 2021

Benchmarks

See 7,130 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,130 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.57M

Not enough data

1 years with asset history on file

Average account balance

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

$161K

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.

65.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$606K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+17.52%

Not enough data

1 years with return on file

Admin fee / account holder

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

$13538

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

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 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

$664K

$8300 / participant

Other / not subdivided$664K100.0%

% of EOY assets

7.486%

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: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$116,712

$110,083+6.0%

$151,645-23.0%

$68,490+70.4%

Participation rate

70.0%

84.0%-14.0pp

87.5%-17.5pp

67.9%+2.1pp

Annual return

-16.66%

-10.12%-6.5pp

3.34%-20.0pp

-7.85%-8.8pp

Employer contribution / active EE

$4,470-100.0%

$6,165-100.0%

$2,597-100.0%

Participant deferral / active EE

$6,383

$6,526-2.2%

$8,363-23.7%

$4,028+58.5%

Admin fee / account holder

$8,736

$7,718+13.2%

$11,614-24.8%

$5,403+61.7%

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