Retirement plan

FIRST STATE BANK OF SAUK CENTRE EMPLOYEE'S 401(K) PROFIT SHARING PLAN & TRUST

Name: FIRST STATE BANK OF SAUK CENTRE - FIRST STATE BANK OF SAUK CENTRE EMPLOYEE'S 401(K) PROFIT SHARING PLAN & TRUST (2016) Form 5500
Creator: FIRST STATE BANK OF SAUK CENTRE
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST STATE BANK OF SAUK CENTRE EMPLOYEE'S 401(K) PROFIT SHARING PLAN & TRUST, FIRST STATE BANK OF SAUK CENTRE

FIRST STATE BANK OF SAUK CENTREdba CENTREEIN 41-0257200Plan #001PY 2016

P.O. BOX 266 - SAUK CENTRE, MN 56378320-352-5771firststatebanksc.comLinkedIn1-10 employeesbanking

Prospect flagsLow returnsHigh feesLow employer contribution

How to read this page

Total assets (EOY)

$3M

-5.0% from 2015

Total participants

-3.8% from 2015

Average account balance

$121,755

-5.0% from 2015

Annual return

4.24%

+5.23 pp from 2015

Benchmarks

See 7,671 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,671 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.22M

Not enough data

1 years with asset history on file

Average account balance

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

$51K

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.

141.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$247K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$15K

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

+6.91%

Not enough data

1 years with return on file

Admin fee / account holder

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

$65023

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 codes2E2F2G2J3D2T

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.
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

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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$371K

$14847 / participant

Other / not subdivided$371K100.0%

% of EOY assets

12.194%

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

$121,755

$87,834+38.6%

$133,979-9.1%

$62,881+93.6%

Participation rate

100.0%

83.4%+16.6pp

87.1%+12.9pp

69.3%+30.7pp

Annual return

4.24%

12.05%-7.8pp

29.30%-25.1pp

20.14%-15.9pp

Employer contribution / active EE

$48

$3,482-98.6%

$5,211-99.1%

$2,281-97.9%

Participant deferral / active EE

$2,912

$4,812-39.5%

$6,282-53.6%

$3,203-9.1%

Admin fee / account holder

$14,847

$5,372+176.4%

$9,324+59.2%

$4,296+245.6%

FIRST STATE BANK OF SAUK CENTRE EMPLOYEE'S 401(K) PROFIT SHARING PLAN & TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST STATE BANK OF SAUK CENTRE EMPLOYEE'S 401(K) PROFIT SHARING PLAN & TRUST

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