Retirement plan

TIMBERLAND BANK EMPLOYEE STOCK OWNERSHIP & 401(K) PLAN

Name: TIMBERLAND BANK - TIMBERLAND BANK EMPLOYEE STOCK OWNERSHIP & 401(K) PLAN (2023) Form 5500
Creator: TIMBERLAND BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, TIMBERLAND BANK EMPLOYEE STOCK OWNERSHIP & 401(K) PLAN, TIMBERLAND BANK

TIMBERLAND BANKEIN 20-5645878Plan #002PY 2023

624 SIMPSON AVENUE - HOQUIAM, WA 98550360-533-4747timberlandbank.comLinkedIn201-500 employeesbanking

Prospect flagsLow returnsLow participant contribution

How to read this page

Total assets (EOY)

$34M

-1.6% from 2022

Total participants

524

-0.4% from 2022

Average account balance

$66,009

-3.1% from 2022

Annual return

9.94%

+19.83 pp from 2022

Benchmarks

See 1,521 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,521 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$39.94M

Not enough data

1 years with asset history on file

Average account balance

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

$97K

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.

411

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.

96.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.27M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+14.29%

Not enough data

1 years with return on file

Admin fee / account holder

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

$130

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

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

Service providers

Top 2 by compensation

Provider	Service type	Compensation
LT TRUST COMPANY8+ years Service code 13 · EIN 61-1607607	Contract Administrator	$38,457
KESTRA INVESTMENT SERVICES LLC3 years Filed as: AHT/KESTRA ADVISORY SERVICES, LLC Service code 26 · EIN 35-2552359	Advisory (Participants)	$8,140

Plan features & details

Pension benefit codes2E2F2G2I2J2P2S2T

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.
2I
Stock bonus
Stock bonus plan.
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.
2P
Leveraged ESOP
Employee stock ownership plan that acquires employer securities with borrowed money or other debt-financing techniques.
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.

Opportunity flags

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$47K

$162 / participant

Investment mgmt$8K17.5%
Contract admin$38K82.5%

% of EOY assets

0.137%

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: DELAP LLP
Auditor EIN: 930418710
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$66,009

$100,272-34.2%

$170,043-61.2%

$74,460-11.4%

Participation rate

96.9%

87.4%+9.5pp

87.0%+9.9pp

70.7%+26.1pp

Annual return

9.94%

66.12%-56.2pp

53.40%-43.5pp

34.38%-24.4pp

Employer contribution / active EE

$3,612

$4,266-15.3%

$6,790-46.8%

$2,638+36.9%

Participant deferral / active EE

$4,141

$7,147-42.1%

$10,410-60.2%

$4,530-8.6%

Admin fee / account holder

$90

$235-61.4%

$12,824-99.3%

$348-74.0%

Provider

Service type

Compensation

LT TRUST COMPANY8+ years

Service code 13 · EIN 61-1607607

Contract Administrator

$38,457

KESTRA INVESTMENT SERVICES LLC3 years

Filed as: AHT/KESTRA ADVISORY SERVICES, LLC

Service code 26 · EIN 35-2552359

Advisory (Participants)

$8,140

TIMBERLAND BANK EMPLOYEE STOCK OWNERSHIP & 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

TIMBERLAND BANK EMPLOYEE STOCK OWNERSHIP & 401(K) 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