Retirement plan

BELMONT SAVINGS BANK SAFE HARBOR 401K PLAN

Name: BELMONT SAVINGS BANK SAFE HARBOR - BELMONT SAVINGS BANK SAFE HARBOR 401K PLAN (2023) Form 5500
Creator: BELMONT SAVINGS BANK SAFE HARBOR
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BELMONT SAVINGS BANK SAFE HARBOR 401K PLAN, BELMONT SAVINGS BANK SAFE HARBOR

BELMONT SAVINGS BANK SAFE HARBOREIN 34-0092790Plan #001PY 2023

3301 GUERNSEY STREET, PO BOX 654 - BELLAIRE, OH 43906740-676-1165bsb.bankLinkedIn51-200 employeesbanking

Prospect flagsLow assets / participant

How to read this page

Total assets (EOY)

$2.1M

+57.7% from 2022

Total participants

+14.8% from 2022

Average account balance

$31,563

+41.0% from 2022

Annual return

17.08%

-13.22 pp from 2022

Benchmarks

See 7,176 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,176 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.26M

Not enough data

1 years with asset history on file

Average account balance

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

$53K

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.

132.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$593K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+11.90%

Not enough data

1 years with return on file

Admin fee / account holder

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

$10624

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 codes2E2H2J3D2T

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
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

1 tripped

OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$4K

$56 / participant

Other / not subdivided$4K100.0%

% of EOY assets

0.172%

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

$31,563

$125,797-74.9%

$170,028-81.4%

$75,181-58.0%

Participation rate

93.8%

83.6%+10.2pp

87.0%+6.7pp

67.2%+26.6pp

Annual return

17.08%

27.20%-10.1pp

53.39%-36.3pp

160.69%-143.6pp

Employer contribution / active EE

$5,010

$4,616+8.5%

$6,788-26.2%

$2,671+87.6%

Participant deferral / active EE

$3,430

$6,838-49.8%

$10,409-67.0%

$4,126-16.9%

Admin fee / account holder

$54

$8,177-99.3%

$12,820-99.6%

$5,650-99.0%

BELMONT SAVINGS BANK SAFE HARBOR 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BELMONT SAVINGS BANK SAFE HARBOR 401K 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