Retirement plan

UNION SAVINGS BANK 401(K) PLAN

Name: UNION SAVINGS BANK - UNION SAVINGS BANK 401(K) PLAN (2020) Form 5500
Creator: UNION SAVINGS BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UNION SAVINGS BANK 401(K) PLAN, UNION SAVINGS BANK

UNION SAVINGS BANKEIN 31-0473290Plan #002PY 2020

8534 EAST KEMPER ROAD - CINCINNATI, OH 45249513-247-0300usavingsbank.comLinkedIn501-1000 employeesbanking

Prospect flagsLow returnsHigh cashLow participation

How to read this page

Total assets (EOY)

$39.4M

+13.4% from 2019

Total participants

708

+6.1% from 2019

Average account balance

$81,506

+6.4% from 2019

Annual return

10.49%

-2.58 pp from 2019

Benchmarks

See 1,455 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,455 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$44.55M

Not enough data

1 years with asset history on file

Average account balance

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

$101K

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.

439

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.

66.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.74M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+10.63%

Not enough data

1 years with return on file

Admin fee / account holder

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

$219

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
PENSION CORPORATION OF AMERICA6+ years Service code 13 · EIN 31-1360674	Contract Administrator	$45,623
PCA INVESTMENT ADVISORY SERVICES6+ years Service code 26 · EIN 59-3766965	Advisory (Participants)	$30,484
CHARLES SCHWAB & CO., INC.1 year Filed as: CHARLES SCHWAB TRUST BANK Service code 52 · EIN 82-3967259	Indirect Investment Fees	$3,138
CHARLES SCHWAB & CO., INC.6+ years Service code 59	Shareholder Servicing	$0
CHARLES SCHWAB & CO., INC.6+ years Filed as: CHARLES SCHWAB TRUST COMPANY Service code 59	Shareholder Servicing	$0

Plan features & details

Pension benefit codes2E2F2H2J2K2T3D3F

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.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.

Expense breakdown

Schedule H Part II

Admin total

$70K

$111 / participant

Investment mgmt$30K43.8%
Contract admin$39K56.2%

% of EOY assets

0.176%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$81,506

$111,608-27.0%

$177,848-54.2%

$73,412+11.0%

Participation rate

64.2%

87.9%-23.6pp

87.7%-23.5pp

72.2%-8.0pp

Annual return

10.49%

18.23%-7.7pp

48.33%-37.8pp

59.30%-48.8pp

Employer contribution / active EE

$1,386

$3,796-63.5%

$5,919-76.6%

$2,234-38.0%

Participant deferral / active EE

$4,084

$6,199-34.1%

$7,714-47.1%

$3,806+7.3%

Admin fee / account holder

$144

$166-13.2%

$12,431-98.8%

$158-9.0%

Provider

Service type

Compensation

PENSION CORPORATION OF AMERICA6+ years

Service code 13 · EIN 31-1360674

Contract Administrator

$45,623

PCA INVESTMENT ADVISORY SERVICES6+ years

Service code 26 · EIN 59-3766965

Advisory (Participants)

$30,484

CHARLES SCHWAB & CO., INC.1 year

Filed as: CHARLES SCHWAB TRUST BANK

Service code 52 · EIN 82-3967259

Indirect Investment Fees

$3,138

CHARLES SCHWAB & CO., INC.6+ years

Service code 59

Shareholder Servicing

CHARLES SCHWAB & CO., INC.6+ years

Filed as: CHARLES SCHWAB TRUST COMPANY

Service code 59

Shareholder Servicing

UNION SAVINGS BANK 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UNION 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