Retirement plan

NORTHWEST BANK 401(K) PLAN

Name: NORTHWEST BANK - NORTHWEST BANK 401(K) PLAN (2019) Form 5500
Creator: NORTHWEST BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, NORTHWEST BANK 401(K) PLAN, NORTHWEST BANK

NORTHWEST BANKEIN 23-2790930Plan #002PY 2019

P.O. BOX 128, 100 LIBERTY STREET - WARREN, PA 16365814-726-2140northwest.bankLinkedIn1001-5000 employeesbanking

Other plans on this EIN

1 filing

#001Retirement-$193.5M assets

Prospect flagsLow returnsLow participant contribution

How to read this page

Total assets (EOY)

$255.5M

-39.0% from 2016

Total participants

3,259

-12.7% from 2016

Average account balance

$87,940

-21.4% from 2016

Annual return

16.98%

-48.09 pp from 2016

Benchmarks

See 551 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants1,000-4,999

Cohort551 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$259.44M

Not enough data

1 years with asset history on file

Average account balance

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

$106K

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.

2,456

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.

77.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$15.05M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+12.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

$103

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
EPIC RETIREMENT PLAN SERVICES5+ years Filed as: BOETGER & ASSOCIATES, INC. Service code 15 · EIN 25-1809719	Recordkeeping	$123,992
NORTHWEST BANK3 years Service code 21 · EIN 23-2790930	Bank Trustee	$99,210

Plan features & details

Pension benefit codes2E2F2G2J2K2T2O

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.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
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

$150K

$65 / participant

Other / not subdivided$150K100.0%

% of EOY assets

0.059%

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: BAKER TILLY VIRCHOW KRAUSE LLP
Auditor EIN: 390859910
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$87,940

$95,776-8.2%

$162,185-45.8%

$77,775+13.1%

Participation rate

84.7%

88.6%-4.0pp

87.6%-2.9pp

73.2%+11.5pp

Annual return

16.98%

37.03%-20.0pp

115.61%-98.6pp

32.58%-15.6pp

Employer contribution / active EE

$1,461

$3,874-62.3%

$5,613-74.0%

$2,504-41.6%

Participant deferral / active EE

$3,397

$6,125-44.5%

$7,297-53.4%

$3,966-14.3%

Admin fee / account holder

$52

$88-41.0%

$10,844-99.5%

$100-48.3%

Provider

Service type

Compensation

EPIC RETIREMENT PLAN SERVICES5+ years

Filed as: BOETGER & ASSOCIATES, INC.

Service code 15 · EIN 25-1809719

Recordkeeping

$123,992

NORTHWEST BANK3 years

Service code 21 · EIN 23-2790930

Bank Trustee

$99,210

NORTHWEST BANK 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

NORTHWEST BANK 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