Retirement plan

LINCOLN BANCORP EMPLOYEES 401(K) PROFIT SHARING PLAN AND TRUST

Name: LINCOLN BANCORP - LINCOLN BANCORP EMPLOYEES 401(K) PROFIT SHARING PLAN AND TRUST (2021) Form 5500
Creator: LINCOLN BANCORP
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LINCOLN BANCORP EMPLOYEES 401(K) PROFIT SHARING PLAN AND TRUST, LINCOLN BANCORP

LINCOLN BANCORPEIN 42-1224950Plan #003PY 2021

360 WESTFIELD AVENUE, SUITE 6 - WATERLOO, IA 50701319-874-4170LinkedIn11-50 employeesbanking

Other plans on this EIN

1 filing

#002Retirement-$27.1M assets

Prospect flagsLow assets / participantLow employer contribution

How to read this page

Total assets (EOY)

$14.7M

+16.3% from 2020

Total participants

406

+9.1% from 2020

Average account balance

$42,250

+2.6% from 2020

Annual return

16.45%

-7.25 pp from 2020

Benchmarks

See 1,509 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,509 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$19.00M

Not enough data

1 years with asset history on file

Average account balance

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

$56K

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.

338

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.

87.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.93M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+14.33%

Not enough data

1 years with return on file

Admin fee / account holder

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

$181

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

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

Service providers

Top 4 by compensation

Provider	Service type	Compensation
TRANSITION FINANCE STRATEGIES, LLC2 years Filed as: TRANSITION FINANCE STRATEGIES Service code 13 · EIN 13-4238973 154 HANSEN ROAD · CHARLOTTESVILLE, VA 22911	Contract Administrator	$2,400
WILSHIRE ASSOCIATES INCORPORATED1 year Filed as: WILLSHIRE ASSOCIATES, INC. (USA) Service code 26	Advisory (Participants)	$1,941
JOHN HANCOCK LIFE INSURANCE COMPANY2 years Filed as: JOHN HANCOCK U.S.A. Service code 15 · EIN 01-0233346 P.O. BOX 600 · BUFFALO, NY 14201	Recordkeeping	$0
WILSHIRE ASSOCIATES INCORPORATED1 year Filed as: WILSHIRE ASSOCIATES, INC. (USA) Service code 26 1299 OCEAN AVENUE · SANTA MONICA, CA 90401	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2E2G2J3D2T2F3H

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.
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.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$39K

$105 / participant

Other / not subdivided$39K100.0%

% of EOY assets

0.262%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FORVIS, LLP
Auditor EIN: 440160260
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$42,250

$111,491-62.1%

$189,537-77.7%

$86,821-51.3%

Participation rate

84.2%

87.3%-3.1pp

87.8%-3.6pp

72.3%+11.9pp

Annual return

16.45%

83.50%-67.0pp

555.34%-538.9pp

97.94%-81.5pp

Employer contribution / active EE

$1,399

$3,951-64.6%

$6,161-77.3%

$2,406-41.9%

Participant deferral / active EE

$4,847

$6,437-24.7%

$8,220-41.0%

$4,132+17.3%

Admin fee / account holder

$111

$189-41.2%

$12,048-99.1%

$170-34.6%

Provider

Service type

Compensation

TRANSITION FINANCE STRATEGIES, LLC2 years

Filed as: TRANSITION FINANCE STRATEGIES

Service code 13 · EIN 13-4238973

154 HANSEN ROAD · CHARLOTTESVILLE, VA 22911

Contract Administrator

$2,400

WILSHIRE ASSOCIATES INCORPORATED1 year

Filed as: WILLSHIRE ASSOCIATES, INC. (USA)

Service code 26

Advisory (Participants)

$1,941

JOHN HANCOCK LIFE INSURANCE COMPANY2 years

Filed as: JOHN HANCOCK U.S.A.

Service code 15 · EIN 01-0233346

P.O. BOX 600 · BUFFALO, NY 14201

Recordkeeping

WILSHIRE ASSOCIATES INCORPORATED1 year

Filed as: WILSHIRE ASSOCIATES, INC. (USA)

Service code 26

1299 OCEAN AVENUE · SANTA MONICA, CA 90401

Advisory (Participants)

LINCOLN BANCORP EMPLOYEES 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LINCOLN BANCORP EMPLOYEES 401(K) 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