Retirement plan

BANK OF SPRINGFIELD 401(K) PROFIT SHARING PLAN

Name: BANK OF SPRINGFIELD - BANK OF SPRINGFIELD 401(K) PROFIT SHARING PLAN (2016) Form 5500
Creator: BANK OF SPRINGFIELD
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BANK OF SPRINGFIELD 401(K) PROFIT SHARING PLAN, BANK OF SPRINGFIELD

BANK OF SPRINGFIELDEIN 37-0865074Plan #001PY 2016

3400 WEST WABASH - SPRINGFIELD, IL 62711217-529-5555bankwithbos.comLinkedIn201-500 employeesbanking

Prospect flagsCorrective distributions

Top hat statement on fileNQDC

Filed November 30, 2015 (most recent of 5 filings on file)

Plan administrator

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3400 Wabash Avenue

Springfield State: IL Zip Code: 62711

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Plans declared (1)

Deferred Compensation Plan and Agreement for Tom E. Marantz1 emp

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Total assets (EOY)

$13M

+11.2% from 2015

Total participants

227

-2.2% from 2015

Average account balance

$63,801

+13.3% from 2015

Annual return

7.85%

+7.11 pp from 2015

Benchmarks

See 2,214 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,214 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$38.17M

Not enough data

1 years with asset history on file

Average account balance

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

$111K

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.

345

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.

96.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.80M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+17.16%

Not enough data

1 years with return on file

Admin fee / account holder

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

$290

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

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 codes2E2J2K2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.

Opportunity flags

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$5K

$27 / participant

Contract admin$5K100.0%

% of EOY assets

0.041%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: SIKICH, LLP
Auditor EIN: 363168081
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$63,801

$74,089-13.9%

$133,975-52.4%

$55,167+15.6%

Participation rate

88.4%

84.3%+4.2pp

87.1%+1.4pp

69.0%+19.5pp

Annual return

7.85%

12.11%-4.3pp

29.29%-21.4pp

169.23%-161.4pp

Employer contribution / active EE

$1,501

$3,064-51.0%

$5,211-71.2%

$1,963-23.5%

Participant deferral / active EE

$4,402

$4,678-5.9%

$6,282-29.9%

$3,054+44.1%

Admin fee / account holder

$26

$458-94.2%

$9,324-99.7%

$504-94.8%

BANK OF SPRINGFIELD 401(K) PROFIT SHARING PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BANK OF SPRINGFIELD 401(K) PROFIT SHARING PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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