Retirement plan

SBERA 401(K) PLAN AS ADOPTED BY SPENCER SAVINGS BANK

Name: SPENCER SAVINGS BANK - SBERA 401(K) PLAN AS ADOPTED BY SPENCER SAVINGS BANK (2016) Form 5500
Creator: SPENCER SAVINGS BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SBERA 401(K) PLAN AS ADOPTED BY SPENCER SAVINGS BANK, SPENCER SAVINGS BANK

SPENCER SAVINGS BANKEIN 04-1856390Plan #002PY 2016

176 MAIN STREET - SPENCER, MA 015620912508-885-5313cornerstonebank.comLinkedIn201-500 employeesbanking

Other plans on this EIN

1 filing

#001Retirement-$7.8M assets

Prospect flagsCorrective distributions

Top hat statement on fileNQDC

Filed May 19, 2025 (most recent of 6 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

330 Whitney Avenue

Holyoke, MA 01040

Email— Sign in and upgrade to view Phone— Sign in and upgrade to view

Plans declared (2)

Cornerstone Bank Supplemental Executive Retirement Agreement for Todd M. Tallman1 emp
Cornerstone Bank Supplemental Executive Retirement Agreement for Brian Loveless1 emp

Total covered: 2 employees

Open the filing PDF

How to read this page

Total assets (EOY)

$4.9M

+13.7% from 2015

Total participants

123

-3.1% from 2015

Average account balance

$44,220

+17.8% from 2015

Annual return

8.14%

+8.30 pp from 2015

Benchmarks

See 7,671 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,671 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 years with per-participant data

Participants with account balance

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

Not enough data

0 years with headcount on file

Eligible Participants and Participation

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

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$730K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

-110.02%

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

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 codes2E2F2G2J3D2T2S

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

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: JOHNSON OCONNOR FERON & CARUCCI LLP
Auditor EIN: 203985546
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$44,220

$87,834-49.7%

$133,975-67.0%

$62,881-29.7%

Participation rate

86.2%

83.4%+2.8pp

87.1%-0.9pp

69.3%+16.9pp

Annual return

8.14%

12.05%-3.9pp

29.29%-21.1pp

20.14%-12.0pp

Employer contribution / active EE

$3,482-100.0%

$5,211-100.0%

$2,281-100.0%

Participant deferral / active EE

$3,865

$4,812-19.7%

$6,282-38.5%

$3,203+20.7%

Admin fee / account holder

$5,372-100.0%

$9,324-100.0%

$4,296-100.0%

SBERA 401(K) PLAN AS ADOPTED BY SPENCER SAVINGS BANK

Top hat statement on fileNQDC

Plan administrator

Plans declared (2)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

SBERA 401(K) PLAN AS ADOPTED BY SPENCER SAVINGS BANK

Top hat statement on fileNQDC

Plan administrator

Plans declared (2)

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