Retirement plan

CFG COMMUNITY BANK 401(K) PROFIT SHARING PLAN AND TRUST

Name: CFG COMMUNITY BANK - CFG COMMUNITY BANK 401(K) PROFIT SHARING PLAN AND TRUST (2019) Form 5500
Creator: CFG COMMUNITY BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CFG COMMUNITY BANK 401(K) PROFIT SHARING PLAN AND TRUST, CFG COMMUNITY BANK

CFG COMMUNITY BANKEIN 52-1948980Plan #001PY 2019

1422 CLARKVIEW ROAD - BALTIMORE, MD 21209410-513-8786thecfgbank.comLinkedIn51-200 employeesbanking

Prospect flagsLow returnsHigh feesCorrective distributions

How to read this page

Total assets (EOY)

$12.3M

+29.2% from 2018

Total participants

161

+34.2% from 2018

Average account balance

$80,655

-2.9% from 2018

Annual return

18.85%

+17.36 pp from 2018

Benchmarks

See 5,552 peers

Peer group

Industry54 - Professional, Scientific, and Technical Services

Plan typeDefined contribution

Participants100-249

Cohort5,552 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$29.42M

Not enough data

1 years with asset history on file

Average account balance

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

$91K

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.

324

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.

93.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.96M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+20.28%

Not enough data

1 years with return on file

Admin fee / account holder

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

$106

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 2 by compensation

Provider	Service type	Compensation
MV CAPITAL MANAGEMENT, INC.1 year Service code 28 · EIN 52-1480475	Investment Management	$40,819
TD AMERITRADE, INC.1 year Filed as: TD AMERITRADE TRUST COMPANY Service code 21 717 17TH STREET · DENVER, CO 802023331	Bank Trustee	$24,573

Plan features & details

Pension benefit codes2E2J2K2F2G3D3H2S2T

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.
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

3 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.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$65K

$523 / participant

Investment mgmt$41K62.4%
Contract admin$25K37.6%

% of EOY assets

0.530%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: DIXON HUGHES GOODMAN LLP
Auditor EIN: 560747981
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$80,655

$89,652-10.0%

$141,197-42.9%

$65,186+23.7%

Participation rate

93.6%

74.7%+18.9pp

82.5%+11.1pp

70.2%+23.4pp

Annual return

18.85%

32.79%-13.9pp

71.41%-52.6pp

29.39%-10.5pp

Employer contribution / active EE

$4,168

$3,065+36.0%

$4,736-12.0%

$2,177+91.5%

Participant deferral / active EE

$7,414

$5,691+30.3%

$6,710+10.5%

$3,514+111.0%

Admin fee / account holder

$427

$569-24.8%

$10,265-95.8%

$847-49.6%

Provider

Service type

Compensation

MV CAPITAL MANAGEMENT, INC.1 year

Service code 28 · EIN 52-1480475

Investment Management

$40,819

TD AMERITRADE, INC.1 year

Filed as: TD AMERITRADE TRUST COMPANY

Service code 21

717 17TH STREET · DENVER, CO 802023331

Bank Trustee

$24,573

CFG COMMUNITY BANK 401(K) PROFIT SHARING PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CFG COMMUNITY BANK 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