Retirement plan

MOUNTAINONE FINANCIAL, INC 401(K) PLAN

Name: MOUNTAINONE FINANCIAL, INC - MOUNTAINONE FINANCIAL, INC 401(K) PLAN (2024) Form 5500
Creator: MOUNTAINONE FINANCIAL, INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MOUNTAINONE FINANCIAL, INC 401(K) PLAN, MOUNTAINONE FINANCIAL, INC

MOUNTAINONE FINANCIAL, INCEIN 04-3413060Plan #002PY 2024

93 MAIN STREET - NORTH ADAMS, MA 01247413-663-5353LinkedIn1-10 employeesbanking

Prospect flagsCorrective distributions

Top hat statement on fileNQDC

Filed July 21, 2015 (most recent of 3 filings on file)

Plan administrator

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93 Main Street

North Adams State: MA Zip Code: 01247

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Plans declared (1)

MountainOne Bank Nonqualified Deferred Compensation Plan1 emp

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Total assets (EOY)

$28.7M

+14.4% from 2023

Total participants

242

+2.5% from 2023

Average account balance

$121,573

+9.5% from 2023

Annual return

13.64%

-3.36 pp from 2023

Benchmarks

See 2,173 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,173 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$28.69M

Not enough data

1 years with asset history on file

Average account balance

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

$122K

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.

236

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.

96.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.08M

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

+13.64%

Not enough data

1 years with return on file

Admin fee / account holder

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

$296

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 3 by compensation

Provider	Service type	Compensation
RPA FINANCIAL, LLC5 years Service code 27 · EIN 83-1143379	Advisory (Plan)	$36,959
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290	Contract Administrator	$32,823
THE ANGELL PENSION GROUP, INC.10+ years Filed as: THE ANGELL PENSION GROUP INC Service code 49 · EIN 04-2530412	Other Services	$12,938

Plan features & details

Pension benefit codes2E2F2G2J2K3D3H

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$70K

$371 / participant

Investment mgmt$37K53.0%
Contract admin$33K47.0%

% of EOY assets

0.243%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$121,573

$122,063-0.4%

$184,256-34.0%

$74,478+63.2%

Participation rate

96.8%

85.5%+11.3pp

86.8%+10.0pp

67.2%+29.6pp

Annual return

13.64%

19.92%-6.3pp

28.85%-15.2pp

1370.56%-1356.9pp

Employer contribution / active EE

$4,165

$4,539-8.2%

$6,427-35.2%

$2,626+58.6%

Participant deferral / active EE

$6,895

$7,144-3.5%

$9,133-24.5%

$4,350+58.5%

Admin fee / account holder

$296

$1,253-76.4%

$13,899-97.9%

$1,946-84.8%

Provider

Service type

Compensation

RPA FINANCIAL, LLC5 years

Service code 27 · EIN 83-1143379

Advisory (Plan)

$36,959

PRINCIPAL LIFE INSURANCE COMPANY10+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$32,823

THE ANGELL PENSION GROUP, INC.10+ years

Filed as: THE ANGELL PENSION GROUP INC

Service code 49 · EIN 04-2530412

Other Services

$12,938

MOUNTAINONE FINANCIAL, INC 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MOUNTAINONE FINANCIAL, INC 401(K) PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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