Retirement plan

FIRST MINNETONKA CITY BANK EMPLOYEES' PROFIT SHARING PLAN AND TRUST

Name: FIRST MINNETONKA CITY BANK - FIRST MINNETONKA CITY BANK EMPLOYEES' PROFIT SHARING PLAN AND TRUST (2017) Form 5500
Creator: FIRST MINNETONKA CITY BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST MINNETONKA CITY BANK EMPLOYEES' PROFIT SHARING PLAN AND TRUST, FIRST MINNETONKA CITY BANK

FIRST MINNETONKA CITY BANKEIN 41-0877090Plan #001PY 2017

14550 EXCELSIOR BOULEVARD - MINNETONKA, MN 55345612-935-8663fmcbank.comLinkedIn11-50 employeesbanking

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$9.7M

+13.1% from 2016

Total participants

-2.2% from 2016

Average account balance

$214,841

+15.6% from 2016

Annual return

11.82%

+5.82 pp from 2016

Benchmarks

See 7,573 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,573 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+2.62%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2E2F2G2J2T3D

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

2 tripped

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

$104K

$3239 / participant

Other / not subdivided$104K100.0%

% of EOY assets

1.072%

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

$214,841

$100,041+114.8%

$149,718+43.5%

$70,131+206.3%

Participation rate

100.0%

83.6%+16.4pp

87.1%+12.9pp

69.5%+30.5pp

Annual return

11.82%

27.43%-15.6pp

1501.70%-1489.9pp

73.14%-61.3pp

Employer contribution / active EE

$2,343

$3,662-36.0%

$5,444-57.0%

$2,3420%

Participant deferral / active EE

$4,358

$4,983-12.5%

$6,568-33.6%

$3,332+30.8%

Admin fee / account holder

$2,303

$8,286-72.2%

$11,283-79.6%

$4,645-50.4%

FIRST MINNETONKA CITY BANK EMPLOYEES' PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST MINNETONKA CITY BANK EMPLOYEES' PROFIT SHARING PLAN AND 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