Retirement plan

GUARDIAN SAVINGS BANK 401(K) PLAN

Name: GUARDIAN SAVINGS BANK - GUARDIAN SAVINGS BANK 401(K) PLAN (2021) Form 5500
Creator: GUARDIAN SAVINGS BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GUARDIAN SAVINGS BANK 401(K) PLAN, GUARDIAN SAVINGS BANK

GUARDIAN SAVINGS BANKEIN 31-0471850Plan #002PY 2021

6100 WEST CHESTER ROAD - WEST CHESTER, OH 45069513-942-3500guardiansavingsbank.comLinkedIn201-500 employeesbanking

Prospect flagsLow returnsHigh cashLow participationLow employer contributionCorrective distributions

How to read this page

Total assets (EOY)

$14M

+8.5% from 2020

Total participants

245

+4.3% from 2020

Average account balance

$99,225

+13.9% from 2020

Annual return

12.62%

+1.27 pp from 2020

Benchmarks

See 2,179 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,179 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.50M

Not enough data

1 years with asset history on file

Average account balance

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

$94K

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.

123

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.

60.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$699K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$4K

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

+16.45%

Not enough data

1 years with return on file

Admin fee / account holder

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

$258

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 5 by compensation

Provider	Service type	Compensation
PCA INVESTMENT ADVISORY SERVICES7+ years Service code 26 · EIN 59-3766965	Advisory (Participants)	$22,308
PENSION CORPORATION OF AMERICA7+ years Service code 13 · EIN 31-1360674	Contract Administrator	$12,380
CHARLES SCHWAB & CO., INC.7+ years Service code 59	Shareholder Servicing	$0
CHARLES SCHWAB & CO., INC.2 years Filed as: CHARLES SCHWAB TRUST BANK Service code 52 · EIN 82-3967259	Indirect Investment Fees	$0
CHARLES SCHWAB & CO., INC.7+ years Filed as: CHARLES SCHWAB TRUST COMPANY Service code 59	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2F2H2J2K2T3D3H

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer 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.
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$35K

$157 / participant

Investment mgmt$22K64.3%
Contract admin$12K35.7%

% of EOY assets

0.248%

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: FORVIS, LLP
Auditor EIN: 440160260
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$99,225

$121,341-18.2%

$189,545-47.7%

$79,389+25.0%

Participation rate

52.9%

86.1%-33.2pp

87.8%-34.9pp

70.7%-17.8pp

Annual return

12.62%

21.08%-8.5pp

555.36%-542.7pp

116.89%-104.3pp

Employer contribution / active EE

$1,314

$3,915-66.4%

$6,162-78.7%

$2,428-45.9%

Participant deferral / active EE

$3,614

$6,395-43.5%

$8,220-56.0%

$4,046-10.7%

Admin fee / account holder

$246

$651-62.2%

$12,049-98.0%

$626-60.7%

Provider

Service type

Compensation

PCA INVESTMENT ADVISORY SERVICES7+ years

Service code 26 · EIN 59-3766965

Advisory (Participants)

$22,308

PENSION CORPORATION OF AMERICA7+ years

Service code 13 · EIN 31-1360674

Contract Administrator

$12,380

CHARLES SCHWAB & CO., INC.7+ years

Service code 59

Shareholder Servicing

CHARLES SCHWAB & CO., INC.2 years

Filed as: CHARLES SCHWAB TRUST BANK

Service code 52 · EIN 82-3967259

Indirect Investment Fees

CHARLES SCHWAB & CO., INC.7+ years

Filed as: CHARLES SCHWAB TRUST COMPANY

Service code 59

Shareholder Servicing

GUARDIAN SAVINGS BANK 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GUARDIAN SAVINGS 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