Retirement plan

THE FIRST NATIONAL BANK OF GROTON RETIREMENT PLAN

Name: THE FIRST NATIONAL BANK OF GROTON - THE FIRST NATIONAL BANK OF GROTON RETIREMENT PLAN (2017) Form 5500
Creator: THE FIRST NATIONAL BANK OF GROTON
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE FIRST NATIONAL BANK OF GROTON RETIREMENT PLAN, THE FIRST NATIONAL BANK OF GROTON

THE FIRST NATIONAL BANK OF GROTONEIN 15-0328960Plan #002PY 2017

161 MAIN STREET - GROTON, NY 130731131607-898-5871grotonbank.comLinkedIn11-50 employeesbanking

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$7.2M

+20.0% from 2016

Total participants

0.0% from 2016

Average account balance

$149,677

+15.0% from 2016

Annual return

16.53%

+7.99 pp from 2016

Benchmarks

See 7,574 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,574 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.66M

Not enough data

1 years with asset history on file

Average account balance

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

$248K

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.

138.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$305K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+13.86%

Not enough data

1 years with return on file

Admin fee / account holder

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

$11910

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 codes2E2J2F2G3D2T

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

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$30K

$871 / participant

Other / not subdivided$30K100.0%

% of EOY assets

0.424%

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

$149,677

$100,060+49.6%

$149,7210%

$70,126+113.4%

Participation rate

100.0%

83.6%+16.4pp

87.1%+12.9pp

69.5%+30.5pp

Annual return

16.53%

27.46%-10.9pp

1501.67%-1485.1pp

73.15%-56.6pp

Employer contribution / active EE

$4,444

$3,661+21.4%

$5,444-18.4%

$2,343+89.7%

Participant deferral / active EE

$2,285

$4,982-54.1%

$6,568-65.2%

$3,332-31.4%

Admin fee / account holder

$635

$8,285-92.3%

$11,282-94.4%

$4,645-86.3%

THE FIRST NATIONAL BANK OF GROTON RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE FIRST NATIONAL BANK OF GROTON RETIREMENT 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