Retirement plan

WATERSTONE BANK SSB 401(K) PLAN

Name: WATERSTONE BANK SSB - WATERSTONE BANK SSB 401(K) PLAN (2019) Form 5500
Creator: WATERSTONE BANK SSB
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WATERSTONE BANK SSB 401(K) PLAN, WATERSTONE BANK SSB

WATERSTONE BANK SSBEIN 39-0691250Plan #002PY 2019

11200 W. PLANK COURT, SUITE 400 - WAUWATOSA, WI 53226414-459-4028wsbonline.comLinkedIn201-500 employeesbanking

Other plans on this EIN

1 filing

#003Retirement-$46.3M assets

Prospect flagsHigh feesLow employer contributionCorrective distributions

Top hat statement on fileNQDC

Filed April 12, 2007

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$10M

+36.0% from 2018

Total participants

248

+11.2% from 2018

Average account balance

$42,254

+21.0% from 2018

Annual return

25.55%

+29.51 pp from 2018

Benchmarks

See 2,202 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,202 peers

Snapshot2019

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$18.56M

Not enough data

1 years with asset history on file

Average account balance

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

$72K

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.

257

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.

97.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.11M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+15.96%

Not enough data

1 years with return on file

Admin fee / account holder

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

$388

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY5+ years Service code 13 · EIN 42-0127290	Contract Administrator	$37,962
GLOBAL RETIREMENT PARTNERS LLC1 year Filed as: GLOBAL RETIRMENT PARTNERS LLC Service code 27 · EIN 47-1411118	Advisory (Plan)	$29,477
CLIFTONLARSONALLEN LLP5+ years Filed as: CLIFTON LARSON ALLEN LLP Service code 10 · EIN 41-0746749	Accounting	$14,997
THE RETIREMENT ADVANTAGE INC1 year Filed as: THE RETIRMENT ADVANTAGE Service code 13 · EIN 39-1816008	Contract Administrator	$3,659
THE RETIREMENT ADVANTAGE INC5+ years Service code 13	Contract Administrator	$3,572

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D2S3H

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.
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

3 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$78K

$393 / participant

Contract admin$78K100.0%

% of EOY assets

0.780%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: CLIFTONLARSONALLEN LLP
Auditor EIN: 410746749
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$42,254

$98,982-57.3%

$162,163-73.9%

$65,185-35.2%

Participation rate

93.9%

85.8%+8.2pp

87.6%+6.4pp

70.2%+23.7pp

Annual return

25.55%

24.84%+0.7pp

115.59%-90.0pp

29.38%-3.8pp

Employer contribution / active EE

$457

$3,467-86.8%

$5,614-91.9%

$2,177-79.0%

Participant deferral / active EE

$4,171

$5,384-22.5%

$7,298-42.8%

$3,514+18.7%

Admin fee / account holder

$330

$596-44.7%

$10,843-97.0%

$847-61.1%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY5+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$37,962

GLOBAL RETIREMENT PARTNERS LLC1 year

Filed as: GLOBAL RETIRMENT PARTNERS LLC

Service code 27 · EIN 47-1411118

Advisory (Plan)

$29,477

CLIFTONLARSONALLEN LLP5+ years

Filed as: CLIFTON LARSON ALLEN LLP

Service code 10 · EIN 41-0746749

Accounting

$14,997

THE RETIREMENT ADVANTAGE INC1 year

Filed as: THE RETIRMENT ADVANTAGE

Service code 13 · EIN 39-1816008

Contract Administrator

$3,659

THE RETIREMENT ADVANTAGE INC5+ years

Service code 13

Contract Administrator

$3,572

WATERSTONE BANK SSB 401(K) PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WATERSTONE BANK SSB 401(K) PLAN

Top hat statement on fileNQDC

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