Retirement plan

STATE BANK OF TAUNTON 401(K) PROFIT SHARING PLAN

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

STATE BANK OF TAUNTONEIN 41-0557420Plan #001PY 2016

101 N MAIN ST - TAUNTON, MN 562910398507-872-6136statebankoftaunton.comLinkedIn1-10 employeesbanking

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$967K

+22.4% from 2015

Total participants

+7.1% from 2015

Average account balance

$64,471

+14.3% from 2015

Annual return

28.66%

+29.63 pp from 2015

Benchmarks

See 30,341 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort30,341 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.21M

Not enough data

1 years with asset history on file

Average account balance

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

$81K

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.

150.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$122K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+15.77%

Not enough data

1 years with return on file

Admin fee / account holder

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

$10968

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 codes2E2F2G3D

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.
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

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

$134K

$12159 / participant

Other / not subdivided$134K100.0%

% of EOY assets

13.830%

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

$64,471

$153,774-58.1%

$133,979-51.9%

$273,970-76.5%

Participation rate

100.0%

88.4%+11.6pp

87.1%+12.9pp

83.0%+17.0pp

Annual return

28.66%

36.51%-7.9pp

29.30%-0.6pp

41.46%-12.8pp

Employer contribution / active EE

$3,534

$6,029-41.4%

$5,211-32.2%

$4,869-27.4%

Participant deferral / active EE

$4,136

$6,958-40.6%

$6,282-34.2%

$5,287-21.8%

Admin fee / account holder

$8,916

$11,765-24.2%

$9,324-4.4%

$10,132-12.0%

STATE BANK OF TAUNTON 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

STATE BANK OF TAUNTON 401(K) PROFIT SHARING 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