Retirement plan

SPENCER SAVINGS BANK SLA SAVINGS RETIREMENT PLAN

Name: SPENCER SAVINGS BANK SLA - SPENCER SAVINGS BANK SLA SAVINGS RETIREMENT PLAN (2017) Form 5500
Creator: SPENCER SAVINGS BANK SLA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SPENCER SAVINGS BANK SLA SAVINGS RETIREMENT PLAN, SPENCER SAVINGS BANK SLA

SPENCER SAVINGS BANK SLAEIN 22-1296609Plan #002PY 2017

611 RIVER DRIVE - ELMWOOD PARK, NJ 07407201-703-3800LinkedIn201-500 employeesbanking

Other plans on this EIN

1 filing

#001Retirement-$29.4M assets

Prospect flagsCorrective distributions

Top hat statement on fileNQDC

Filed June 23, 2015

Plan administrator

Plan administrator name— Sign in and upgrade to view

611 River Drive

Elmwood Park State: NJ Zip Code: 07407

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Plans declared (6)

Spencer Savings Bank, SLA Supplemental Executive Retirement Plan for Jose B. Guerrero1 emp
Spencer Savings Bank, SLA Supplemental Executive Retirement Plan for Jane E. Allerman-Rey1 emp
Spencer Savings Bank, SLA Supplemental Executive Retirement Planf or Robert L. Peacock1 emp
Spencer Savings Bank, SLA Supplemental Executive Retirement Plan for John C. Duncan1 emp
Spencer Savings Bank, SLA Supplemental Executive Retirement Plan for John M. Fitzpatrick1 emp
+1 more

Total covered: 6 employees

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Total assets (EOY)

$33.5M

+16.6% from 2016

Total participants

298

-0.3% from 2016

Average account balance

$115,595

+17.4% from 2016

Annual return

16.54%

+9.38 pp from 2016

Benchmarks

See 1,453 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,453 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$48.45M

Not enough data

1 years with asset history on file

Average account balance

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

$128K

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.

378

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.

96.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.05M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+10.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

$498

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 6 by compensation

Provider	Service type	Compensation
CETERA ADVISOR NETWORKS LLC3+ years Service code 53 · EIN 95-3845382	Insurance Commissions	$78,785
MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years Service code 52 · EIN 04-1590850	Indirect Investment Fees	$7,430
MORGAN STANLEY SMITH BARNEY1 year Filed as: JP MORGAN Service code 52 · EIN 90-0342299	Indirect Investment Fees	$0
NUVEEN1 year Service code 52 · EIN 39-1901483	Indirect Investment Fees	$0
OPPENHEIMER1 year Service code 52 · EIN 93-1036175	Indirect Investment Fees	$0
T ROWE PRICE RPS INC1 year Filed as: T. ROWE PRICE Service code 52 · EIN 52-1151266	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

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$7K

$29 / participant

Contract admin$7K99.8%
Other / not subdivided$150.2%

% of EOY assets

0.022%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CROWE HORWATH
Auditor EIN: 350921680
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$115,595

$81,537+41.8%

$149,721-22.8%

$69,631+66.0%

Participation rate

96.8%

86.1%+10.7pp

87.1%+9.8pp

70.7%+26.2pp

Annual return

16.54%

22.79%-6.2pp

1501.67%-1485.1pp

27571.02%-27554.5pp

Employer contribution / active EE

$3,051

$3,239-5.8%

$5,444-44.0%

$2,032+50.1%

Participant deferral / active EE

$4,330

$4,994-13.3%

$6,568-34.1%

$3,224+34.3%

Admin fee / account holder

$26

$107-76.0%

$11,282-99.8%

$110-76.8%

Provider

Service type

Compensation

CETERA ADVISOR NETWORKS LLC3+ years

Service code 53 · EIN 95-3845382

Insurance Commissions

$78,785

MASSACHUSETTS MUTUAL LIFE INS. CO.3+ years

Service code 52 · EIN 04-1590850

Indirect Investment Fees

$7,430

MORGAN STANLEY SMITH BARNEY1 year

Filed as: JP MORGAN

Service code 52 · EIN 90-0342299

Indirect Investment Fees

NUVEEN1 year

Service code 52 · EIN 39-1901483

Indirect Investment Fees

OPPENHEIMER1 year

Service code 52 · EIN 93-1036175

Indirect Investment Fees

T ROWE PRICE RPS INC1 year

Filed as: T. ROWE PRICE

Service code 52 · EIN 52-1151266

Indirect Investment Fees

SPENCER SAVINGS BANK SLA SAVINGS RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (6)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SPENCER SAVINGS BANK SLA SAVINGS RETIREMENT PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (6)

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