Retirement plan

THE NORTH COUNTRY SAVINGS BANK

Name: THE NORTH COUNTRY SAVINGS BANK - THE NORTH COUNTRY SAVINGS BANK (2016) Form 5500
Creator: THE NORTH COUNTRY SAVINGS BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE NORTH COUNTRY SAVINGS BANK, THE NORTH COUNTRY SAVINGS BANK

THE NORTH COUNTRY SAVINGS BANKEIN 15-0436610Plan #002PY 2016

127 MAIN STREET - CANTON, NY 13617315-714-3041northcountrysavings.bankLinkedIn51-200 employeesbanking

Other plans on this EIN

1 filing

#001Retirement-$24.7M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$5.4M

+6.2% from 2015

Total participants

+4.2% from 2015

Average account balance

$80,133

+1.5% from 2015

Annual return

6.18%

+7.09 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

$8.37M

Not enough data

1 years with asset history on file

Average account balance

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

$96K

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.

124.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$525K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+11.15%

Not enough data

1 years with return on file

Admin fee / account holder

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

$25644

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 codes2E2F2G2J2T3D

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

1 tripped

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

$338K

$6493 / participant

Other / not subdivided$338K100.0%

% of EOY assets

6.196%

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

$80,133

$87,834-8.8%

$133,975-40.2%

$62,881+27.4%

Participation rate

88.5%

83.4%+5.1pp

87.1%+1.4pp

69.3%+19.2pp

Annual return

6.18%

12.05%-5.9pp

29.29%-23.1pp

20.14%-14.0pp

Employer contribution / active EE

$2,702

$3,482-22.4%

$5,211-48.2%

$2,281+18.5%

Participant deferral / active EE

$3,725

$4,812-22.6%

$6,282-40.7%

$3,203+16.3%

Admin fee / account holder

$4,965

$5,372-7.6%

$9,324-46.8%

$4,296+15.6%

THE NORTH COUNTRY SAVINGS BANK

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE NORTH COUNTRY SAVINGS BANK

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