Retirement plan

PEAPACK-GLADSTONE BANK EMPLOYEES SAVINGS AND INVESTMENTS

Name: PEAPACK-GLADSTONE BANK - PEAPACK-GLADSTONE BANK EMPLOYEES SAVINGS AND INVESTMENTS (2021) Form 5500
Creator: PEAPACK-GLADSTONE BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PEAPACK-GLADSTONE BANK EMPLOYEES SAVINGS AND INVESTMENTS, PEAPACK-GLADSTONE BANK

PEAPACK-GLADSTONE BANKEIN 22-2491488Plan #002PY 2021

500 HILLS DRIVE, SUITE 100 - BEDMINSTER, NJ 07921908-719-4326

Prospect flagsCorrective distributions

How to read this page

Total assets (EOY)

$82.1M

+23.9% from 2020

Total participants

579

+0.3% from 2020

Average account balance

$142,743

+21.6% from 2020

Annual return

19.71%

+6.81 pp from 2020

Benchmarks

See 1,509 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,509 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$122.44M

Not enough data

1 years with asset history on file

Average account balance

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

$147K

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.

833

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.

98.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$12.54M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$18K

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

+16.58%

Not enough data

1 years with return on file

Admin fee / account holder

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

$279

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 4 by compensation

Provider	Service type	Compensation
GOULDIN & MCCARTHY LLC1 year Service code 27 · EIN 20-0373677	Advisory (Plan)	$27,680
PRUDENTIAL RETIREMENT INSURANCE AND7+ years Service code 13 · EIN 06-1050034	Contract Administrator	$10,801
CROWE LLP1 year Filed as: CROWE HORWATH LL Service code 10 · EIN 22-3526587	Accounting	$9,750
APW CAPITAL INC3 years Service code 33 · EIN 22-3526587	Securities brokerage commissions and ...	$0

Plan features & details

Pension benefit codes2E2J2K2T2S3D

Plan features

2E
Profit-sharing
Profit-sharing 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.
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

$76K

$160 / participant

Other / not subdivided$76K100.0%

% of EOY assets

0.092%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CROWE LLP
Auditor EIN: 350921680
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$142,743

$111,491+28.0%

$189,537-24.7%

$86,821+64.4%

Participation rate

99.2%

87.3%+11.8pp

87.8%+11.4pp

72.3%+26.9pp

Annual return

19.71%

83.50%-63.8pp

555.34%-535.6pp

97.94%-78.2pp

Employer contribution / active EE

$5,176

$3,951+31.0%

$6,161-16.0%

$2,406+115.1%

Participant deferral / active EE

$10,905

$6,437+69.4%

$8,220+32.7%

$4,132+163.9%

Admin fee / account holder

$132

$189-30.3%

$12,048-98.9%

$170-22.4%

Provider

Service type

Compensation

GOULDIN & MCCARTHY LLC1 year

Service code 27 · EIN 20-0373677

Advisory (Plan)

$27,680

PRUDENTIAL RETIREMENT INSURANCE AND7+ years

Service code 13 · EIN 06-1050034

Contract Administrator

$10,801

CROWE LLP1 year

Filed as: CROWE HORWATH LL

Service code 10 · EIN 22-3526587

Accounting

$9,750

APW CAPITAL INC3 years

Service code 33 · EIN 22-3526587

Securities brokerage commissions and ...

PEAPACK-GLADSTONE BANK EMPLOYEES SAVINGS AND INVESTMENTS

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PEAPACK-GLADSTONE BANK EMPLOYEES SAVINGS AND INVESTMENTS

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