Retirement plan

PEAPACK-GLADSTONE BANK EMPLOYEES SAVINGS AND INVESTMENTS PLAN

Name: PEAPACK-GLADSTONE BANK - PEAPACK-GLADSTONE BANK EMPLOYEES SAVINGS AND INVESTMENTS PLAN (2022) 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 PLAN, PEAPACK-GLADSTONE BANK

PEAPACK-GLADSTONE BANKEIN 22-2491488Plan #002PY 2022

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

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$76.7M

-6.6% from 2021

Total participants

614

+6.0% from 2021

Average account balance

$125,293

-12.2% from 2021

Annual return

-12.63%

-32.34 pp from 2021

Benchmarks

See 1,529 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,529 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$107.40M

Not enough data

1 years with asset history on file

Average account balance

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

$144K

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.

746

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.

97.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$10.50M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$17K

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

+14.85%

Not enough data

1 years with return on file

Admin fee / account holder

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

$182

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
RESOURCES INVESTMENT ADVISORS LLC1 year Filed as: RESOURCES INVESTMENT ADVISORS INC Service code 27 · EIN 43-1451524	Advisory (Plan)	$80,967
CROWE LLP1 year Service code 10 · EIN 35-0921680	Accounting	$39,000
GOULDIN & MCCARTHY LLC2 years Service code 27 · EIN 20-0373677	Advisory (Plan)	$28,203
PRUDENTIAL RETIREMENT INSURANCE AND8+ years Service code 13 · EIN 06-1050034	Contract Administrator	$17,896

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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$167K

$343 / participant

Investment mgmt$109K65.6%
Contract admin$18K10.8%
Other / not subdivided$39K23.7%

% of EOY assets

0.217%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$125,293

$86,897+44.2%

$151,645-17.4%

$64,824+93.3%

Participation rate

99.6%

87.3%+12.3pp

87.5%+12.1pp

71.5%+28.1pp

Annual return

-12.63%

-3.57%-9.1pp

3.34%-16.0pp

32.84%-45.5pp

Employer contribution / active EE

$6,481

$4,010+61.6%

$6,165+5.1%

$2,507+158.5%

Participant deferral / active EE

$11,937

$6,690+78.4%

$8,363+42.7%

$4,311+176.9%

Admin fee / account holder

$272

$153+77.9%

$11,614-97.7%

$188+44.9%

Provider

Service type

Compensation

RESOURCES INVESTMENT ADVISORS LLC1 year

Filed as: RESOURCES INVESTMENT ADVISORS INC

Service code 27 · EIN 43-1451524

Advisory (Plan)

$80,967

CROWE LLP1 year

Service code 10 · EIN 35-0921680

Accounting

$39,000

GOULDIN & MCCARTHY LLC2 years

Service code 27 · EIN 20-0373677

Advisory (Plan)

$28,203

PRUDENTIAL RETIREMENT INSURANCE AND8+ years

Service code 13 · EIN 06-1050034

Contract Administrator

$17,896

PEAPACK-GLADSTONE BANK EMPLOYEES SAVINGS AND INVESTMENTS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PEAPACK-GLADSTONE BANK EMPLOYEES SAVINGS AND INVESTMENTS 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