Retirement plan

FIRST STATE BANCORP, INC. COMBINED RETIREMENT BENEFIT PLAN

Name: FIRST STATE BANCORP, INC. - FIRST STATE BANCORP, INC. COMBINED RETIREMENT BENEFIT PLAN (2021) Form 5500
Creator: FIRST STATE BANCORP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST STATE BANCORP, INC. COMBINED RETIREMENT BENEFIT PLAN, FIRST STATE BANCORP, INC.

FIRST STATE BANCORP, INC.EIN 43-1281074Plan #003PY 2021

100 W 3RD ST - CARUTHERSVILLE, MO 638301356573-333-1700LinkedIn51-200 employeesbanking

Prospect flagsLow returnsHigh feesHigh assets / participantLow employer contribution

How to read this page

Total assets (EOY)

$39.1M

-0.6% from 2020

Total participants

149

+1.4% from 2020

Average account balance

$267,957

-2.0% from 2020

Annual return

9.81%

+2.88 pp from 2020

Benchmarks

See 7,182 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,182 peers

Snapshot2021

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

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Analytics

Total assets (EOY)

Plan-year ending balance

$42.96M

Not enough data

1 years with asset history on file

Average account balance

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

$305K

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.

141

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.

89.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$838K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+14.30%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1358

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY7+ years Service code 13 · EIN 42-0127290	Contract Administrator	$64,838
CETERA ADVISOR NETWORKS LLC3 years Filed as: CETERA INVESTMENT ADVISERS LLC Service code 27 · EIN 36-3258176	Advisory (Plan)	$24,819
POLSINELLI1 year Filed as: POLSINELLI PC Service code 29 · EIN 43-1064260	Legal	$20,740
BKD, LLP1 year Filed as: BKD LLP Service code 10 · EIN 44-0160260	Accounting	$17,392
PRAIRIE CAPITAL ADVISORS1 year Filed as: PRAIRIE CAPITAL Service code 34 · EIN 36-4072641	Valuation (appraisals, etc.); Direct ...	$6,000

Plan features & details

Pension benefit codes2E2G2I2J2K2P2Q2T3I

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2I
Stock bonus
Stock bonus plan.
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.
2P
Leveraged ESOP
Employee stock ownership plan that acquires employer securities with borrowed money or other debt-financing techniques.
2Q
ESOP maintained by an S corporation
The employer maintaining this ESOP is an S corporation.
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.
3I
Employer securities investment required
Plan requiring that all or part of employer contributions be invested and held at least for a limited period in employer securities.

Opportunity flags

4 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.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$129K

$1577 / participant

Contract admin$129K100.0%

% of EOY assets

0.331%

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

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$267,957

$137,414+95.0%

$189,513+41.4%

$85,850+212.1%

Participation rate

96.3%

84.6%+11.7pp

87.8%+8.5pp

69.3%+27.0pp

Annual return

9.81%

38.14%-28.3pp

555.15%-545.3pp

318.53%-308.7pp

Employer contribution / active EE

$1,231

$4,344-71.7%

$6,162-80.0%

$2,565-52.0%

Participant deferral / active EE

$3,481

$6,260-44.4%

$8,221-57.7%

$3,952-11.9%

Admin fee / account holder

$886

$8,630-89.7%

$12,045-92.6%

$6,260-85.9%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY7+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$64,838

CETERA ADVISOR NETWORKS LLC3 years

Filed as: CETERA INVESTMENT ADVISERS LLC

Service code 27 · EIN 36-3258176

Advisory (Plan)

$24,819

POLSINELLI1 year

Filed as: POLSINELLI PC

Service code 29 · EIN 43-1064260

Legal

$20,740

BKD, LLP1 year

Filed as: BKD LLP

Service code 10 · EIN 44-0160260

Accounting

$17,392

PRAIRIE CAPITAL ADVISORS1 year

Filed as: PRAIRIE CAPITAL

Service code 34 · EIN 36-4072641

Valuation (appraisals, etc.); Direct ...

$6,000

FIRST STATE BANCORP, INC. COMBINED RETIREMENT BENEFIT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST STATE BANCORP, INC. COMBINED RETIREMENT BENEFIT 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