Retirement plan

FIRST COUNTY BANK SAVINGS PLAN

Name: FIRST COUNTY BANK - FIRST COUNTY BANK SAVINGS PLAN (2020) Form 5500
Creator: FIRST COUNTY BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST COUNTY BANK SAVINGS PLAN, FIRST COUNTY BANK

FIRST COUNTY BANKEIN 06-0547190Plan #002PY 2020

3001 SUMMER STREET - STAMFORD, CT 06905203-462-4200firstcountybank.comLinkedIn51-200 employeesbanking

Other plans on this EIN

1 filing

#001Retirement-$67.9M assets

Prospect flagsLow returns

Top hat statement on fileNQDC

Filed July 1, 2019 (most recent of 4 filings on file)

Plan administrator

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3001 Summer Street

Stamford, CT 06905

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Plans declared (1)

First County Bank Target Benefit SERP Plan2 emp

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Total assets (EOY)

$28.6M

+16.9% from 2019

Total participants

286

-4.0% from 2019

Average account balance

$102,169

+22.4% from 2019

Annual return

11.90%

-8.05 pp from 2019

Benchmarks

See 2,211 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,211 peers

Snapshot2020

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Analytics

Total assets (EOY)

Plan-year ending balance

$39.72M

Not enough data

1 years with asset history on file

Average account balance

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

$151K

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.

263

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.

98.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.60M

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

+13.83%

Not enough data

1 years with return on file

Admin fee / account holder

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

$28

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 10 of 11 by compensation

Provider	Service type	Compensation
LPL FINANCIAL5 years Filed as: LPL FINANCIAL CORPORATION Service code 53 · EIN 95-2834236	Insurance Commissions	$44,105
MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years Service code 49 · EIN 04-1590850	Other Services	$3,816
AMERICAN CENTURY4 years Service code 52 · EIN 43-0821857	Indirect Investment Fees	$0
AMERICAN FUNDS4 years Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
COLUMBIA4 years Service code 52 · EIN 94-1687665	Indirect Investment Fees	$0
EATON VANCE4 years Service code 52 · EIN 04-6039283	Indirect Investment Fees	$0
INVESCO4 years Service code 52 · EIN 94-2362417	Indirect Investment Fees	$0
JANUS HENDERSON4 years Service code 52 · EIN 84-0592523	Indirect Investment Fees	$0
NORTHERN FUNDS4 years Service code 52 · EIN 36-3608252	Indirect Investment Fees	$0
PIMCO FUNDS4 years Service code 52 · EIN 95-2632339	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3D2S2T

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.
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

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$4K

$17 / participant

Contract admin$4K98.0%
Other / not subdivided$752.0%

% of EOY assets

0.013%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: RSM US LLP
Auditor EIN: 420714325
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$102,169

$136,307-25.0%

$177,821-42.5%

$73,488+39.0%

Participation rate

97.3%

86.1%+11.2pp

87.7%+9.6pp

70.7%+26.6pp

Annual return

11.90%

18.68%-6.8pp

48.32%-36.4pp

28.51%-16.6pp

Employer contribution / active EE

$4,199

$3,712+13.1%

$5,918-29.0%

$2,270+85.0%

Participant deferral / active EE

$6,239

$5,829+7.0%

$7,714-19.1%

$3,740+66.8%

Admin fee / account holder

$14

$596-97.7%

$12,427-99.9%

$513-97.3%

Provider

Service type

Compensation

LPL FINANCIAL5 years

Filed as: LPL FINANCIAL CORPORATION

Service code 53 · EIN 95-2834236

Insurance Commissions

$44,105

MASSACHUSETTS MUTUAL LIFE INS. CO.6+ years

Service code 49 · EIN 04-1590850

Other Services

$3,816

AMERICAN CENTURY4 years

Service code 52 · EIN 43-0821857

Indirect Investment Fees

AMERICAN FUNDS4 years

Service code 52 · EIN 95-1411037

Indirect Investment Fees

COLUMBIA4 years

Service code 52 · EIN 94-1687665

Indirect Investment Fees

EATON VANCE4 years

Service code 52 · EIN 04-6039283

Indirect Investment Fees

INVESCO4 years

Service code 52 · EIN 94-2362417

Indirect Investment Fees

JANUS HENDERSON4 years

Service code 52 · EIN 84-0592523

Indirect Investment Fees

NORTHERN FUNDS4 years

Service code 52 · EIN 36-3608252

Indirect Investment Fees

PIMCO FUNDS4 years

Service code 52 · EIN 95-2632339

Indirect Investment Fees

FIRST COUNTY BANK SAVINGS 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

FIRST COUNTY BANK SAVINGS 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