Retirement plan

THE FIRST BANK OF GREENWICH 401K PLAN

Name: THE FIRST BANK OF GREENWICH - THE FIRST BANK OF GREENWICH 401K PLAN (2020) Form 5500
Creator: THE FIRST BANK OF GREENWICH
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE FIRST BANK OF GREENWICH 401K PLAN, THE FIRST BANK OF GREENWICH

THE FIRST BANK OF GREENWICHEIN 05-0586924Plan #001PY 2020

444 EAST PUTNAM AVENUE - COS COB, CT 06807203-302-4379greenwichfirst.comLinkedIn11-50 employeesbanking

Prospect flagsHigh feesLow fidelity bond

How to read this page

Total assets (EOY)

$2.2M

+24.7% from 2019

Total participants

+2.1% from 2019

Average account balance

$45,634

+22.1% from 2019

Annual return

16.92%

-2.21 pp from 2019

Benchmarks

See 7,209 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,209 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$7.55M

Not enough data

1 years with asset history on file

Average account balance

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

$109K

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.

135.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$724K

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

+45.82%

Not enough data

1 years with return on file

Admin fee / account holder

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

$2701

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 codes2E2F2G2J2T3D3H

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Expense breakdown

Schedule H Part II

Admin total

$181K

$5842 / participant

Other / not subdivided$181K100.0%

% of EOY assets

8.268%

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

$45,634

$123,793-63.1%

$177,848-74.3%

$79,856-42.9%

Participation rate

100.0%

84.7%+15.3pp

87.7%+12.3pp

69.6%+30.4pp

Annual return

16.92%

22.82%-5.9pp

48.33%-31.4pp

31.71%-14.8pp

Employer contribution / active EE

$3,666

$4,095-10.5%

$5,919-38.1%

$2,471+48.4%

Participant deferral / active EE

$6,510

$5,956+9.3%

$7,714-15.6%

$3,741+74.0%

Admin fee / account holder

$3,773

$7,243-47.9%

$12,431-69.6%

$5,306-28.9%

THE FIRST BANK OF GREENWICH 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE FIRST BANK OF GREENWICH 401K 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