Retirement plan

HAMLIN BANK AND TRUST COMPANY 401(K) RETIREMENT PLAN

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

HAMLIN BANK AND TRUST COMPANYEIN 25-0532490Plan #002PY 2024

333 WEST MAIN STREET, P.O. BOX 367 - SMETHPORT, PA 16749814-887-5555hamlinbank.comLinkedIn51-200 employeesbanking

Other plans on this EIN

1 filing

#001Retirement-$28.0M assets

Prospect flagsLow participationLow participant contribution

How to read this page

Total assets (EOY)

$2.6M

+21.5% from 2023

Total participants

+10.1% from 2023

Average account balance

$53,757

+19.0% from 2023

Annual return

17.78%

-3.83 pp from 2023

Benchmarks

See 7,155 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,155 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.58M

Not enough data

1 years with asset history on file

Average account balance

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

$54K

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.

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.

57.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$90K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+17.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$250

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

0 years with F_SCH_H allocation on file

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

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E3D2G2J2F2T

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.
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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$12K

$143 / participant

Other / not subdivided$12K100.0%

% of EOY assets

0.464%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$53,757

$138,393-61.2%

$184,256-70.8%

$80,959-33.6%

Participation rate

40.5%

83.9%-43.4pp

86.8%-46.3pp

67.7%-27.2pp

Annual return

17.78%

20.01%-2.2pp

28.85%-11.1pp

35.67%-17.9pp

Employer contribution / active EE

$4,847-100.0%

$6,427-100.0%

$2,757-100.0%

Participant deferral / active EE

$1,077

$7,076-84.8%

$9,133-88.2%

$4,300-75.0%

Admin fee / account holder

$250

$10,489-97.6%

$13,899-98.2%

$6,925-96.4%

HAMLIN BANK AND TRUST COMPANY 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

HAMLIN BANK AND TRUST COMPANY 401(K) RETIREMENT 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