Retirement plan

STURDY SAVINGS BANK 401K RETIREMENT SAVINGS PLAN

Name: STURDY SAVINGS BANK - STURDY SAVINGS BANK 401K RETIREMENT SAVINGS PLAN (2024) Form 5500
Creator: STURDY SAVINGS BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, STURDY SAVINGS BANK 401K RETIREMENT SAVINGS PLAN, STURDY SAVINGS BANK

STURDY SAVINGS BANKEIN 21-0605343Plan #002PY 2024

9417 THIRD AVENUE - STONE HARBOR, NJ 08247609-463-9071sturdyonline.comLinkedIn51-200 employeesbanking

Prospect flagsLow returnsHigh fees

Top hat statement on fileNQDC

Filed June 22, 2009 (most recent of 3 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$36.7M

+7.8% from 2023

Total participants

218

+11.2% from 2023

Average account balance

$200,428

+14.9% from 2023

Annual return

11.89%

-0.81 pp from 2023

Benchmarks

See 2,173 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,173 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$36.68M

Not enough data

1 years with asset history on file

Average account balance

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

$200K

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.

183

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.

74.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.77M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+11.89%

Not enough data

1 years with return on file

Admin fee / account holder

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

$351

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 5 by compensation

Provider	Service type	Compensation
ALDEN CAPITAL1 year Filed as: ALDEN CAPITAL MANAGEMENT INC Service code 27 37 W AVE STE 301 · WAYNE, PA 19087	Advisory (Plan)	$33,052
CARON & BLETZER, PLLC1 year Service code 10 1 LIBRARY LANE · KINGSTON, NH 03848	Accounting	$12,500
CETERA ADVISOR NETWORKS LLC2 years Filed as: CETERA INVESTMENT ADVISERS LLC Service code 99 200 N PACIFIC COAST HWY STE 1200 · EL SEGUNDO, CA 90245	Other Fees	$10,402
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$2,313
GREAT-WEST LIFE & ANNUITY INSURANCE3 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$64K

$473 / participant

Investment mgmt$35K55.0%
Other / not subdivided$29K45.0%

% of EOY assets

0.175%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CARON & BLETZER, PLLC
Auditor EIN: 043499945
Audit fees: $12,500
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$200,428

$122,063+64.2%

$184,256+8.8%

$74,478+169.1%

Participation rate

74.3%

85.5%-11.2pp

86.8%-12.6pp

67.2%+7.0pp

Annual return

11.89%

19.92%-8.0pp

28.85%-17.0pp

1370.56%-1358.7pp

Employer contribution / active EE

$5,534

$4,539+21.9%

$6,427-13.9%

$2,626+110.7%

Participant deferral / active EE

$7,484

$7,144+4.8%

$9,133-18.1%

$4,350+72.0%

Admin fee / account holder

$351

$1,253-71.9%

$13,899-97.5%

$1,946-81.9%

Provider

Service type

Compensation

ALDEN CAPITAL1 year

Filed as: ALDEN CAPITAL MANAGEMENT INC

Service code 27

37 W AVE STE 301 · WAYNE, PA 19087

Advisory (Plan)

$33,052

CARON & BLETZER, PLLC1 year

Service code 10

1 LIBRARY LANE · KINGSTON, NH 03848

Accounting

$12,500

CETERA ADVISOR NETWORKS LLC2 years

Filed as: CETERA INVESTMENT ADVISERS LLC

Service code 99

200 N PACIFIC COAST HWY STE 1200 · EL SEGUNDO, CA 90245

Other Fees

$10,402

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ADVISORY GROUP, LLC

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$2,313

GREAT-WEST LIFE & ANNUITY INSURANCE3 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

STURDY SAVINGS BANK 401K RETIREMENT SAVINGS PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

STURDY SAVINGS BANK 401K RETIREMENT SAVINGS PLAN

Top hat statement on fileNQDC

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