Retirement plan

WATERSTONE BANK SSB 401(K) PLAN

Name: WATERSTONE BANK SSB - WATERSTONE BANK SSB 401(K) PLAN (2021) 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 2021

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

Other plans on this EIN

1 filing

#003Retirement-$51.1M assets

Prospect flagsHigh feesLow employer contribution

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.

Open the filing PDF

How to read this page

Total assets (EOY)

$14.6M

+16.5% from 2020

Total participants

273

+7.9% from 2020

Average account balance

$55,984

+8.1% from 2020

Annual return

16.66%

-1.90 pp from 2020

Benchmarks

See 2,179 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,179 peers

Snapshot2021

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

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

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

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

Start for $4.99 See plans

Service providers

Top 6 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY7+ years Service code 13 · EIN 42-0127290	Contract Administrator	$53,222
GLOBAL RETIREMENT PARTNERS LLC3 years Filed as: GLOBAL RETIRMENT PARTNERS LLC Service code 27 · EIN 47-1411118	Advisory (Plan)	$27,984
CLIFTONLARSONALLEN LLP7+ years Filed as: CLIFTON LARSON ALLEN LLP Service code 10 · EIN 41-0746749	Accounting	$16,065
THE RETIREMENT ADVANTAGE INC7+ years Service code 13	Contract Administrator	$6,030
THE RETIREMENT ADVANTAGE INC3 years Filed as: THE RETIRMENT ADVANTAGE Service code 13 · EIN 39-1816008	Contract Administrator	$3,563
GLOBAL RETIREMENT PARTNERS LLC1 year Service code 27	Advisory (Plan)	$16

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D3H

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

2 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.)

Expense breakdown

Schedule H Part II

Admin total

$93K

$496 / participant

Contract admin$93K100.0%

% of EOY assets

0.638%

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

Look up a plan sponsor by EIN. Free Form 5500 search. No signup.

Metric

This plan

Peer set

Industry

Size

Avg account balance

$55,984

$121,341-53.9%

$189,513-70.5%

$79,386-29.5%

Participation rate

93.6%

86.1%+7.5pp

87.8%+5.8pp

70.7%+22.9pp

Annual return

16.66%

21.08%-4.4pp

555.15%-538.5pp

116.85%-100.2pp

Employer contribution / active EE

$467

$3,915-88.1%

$6,162-92.4%

$2,427-80.8%

Participant deferral / active EE

$4,700

$6,395-26.5%

$8,221-42.8%

$4,046+16.2%

Admin fee / account holder

$357

$651-45.2%

$12,045-97.0%

$626-43.0%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY7+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$53,222

GLOBAL RETIREMENT PARTNERS LLC3 years

Filed as: GLOBAL RETIRMENT PARTNERS LLC

Service code 27 · EIN 47-1411118

Advisory (Plan)

$27,984

CLIFTONLARSONALLEN LLP7+ years

Filed as: CLIFTON LARSON ALLEN LLP

Service code 10 · EIN 41-0746749

Accounting

$16,065

THE RETIREMENT ADVANTAGE INC7+ years

Service code 13

Contract Administrator

$6,030

THE RETIREMENT ADVANTAGE INC3 years

Filed as: THE RETIRMENT ADVANTAGE

Service code 13 · EIN 39-1816008

Contract Administrator

$3,563

GLOBAL RETIREMENT PARTNERS LLC1 year

Service code 27

Advisory (Plan)

$16

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