Retirement plan

CHESAPEAKE FINANCIAL SHARES, INC. 401(K) PROFIT SHARING PLAN

Name: CHESAPEAKE FINANCIAL SHARES, INC. - CHESAPEAKE FINANCIAL SHARES, INC. 401(K) PROFIT SHARING PLAN (2016) Form 5500
Creator: CHESAPEAKE FINANCIAL SHARES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CHESAPEAKE FINANCIAL SHARES, INC. 401(K) PROFIT SHARING PLAN, CHESAPEAKE FINANCIAL SHARES, INC.

CHESAPEAKE FINANCIAL SHARES, INC.EIN 54-1210845Plan #003PY 2016

P.O. BOX 1419 - KILMARNOCK, VA 224821419804-435-4200chesapeakefinancialshares.comLinkedIn1-10 employees

Other plans on this EIN

2 filings

#002Retirement-$6.2M assets #004Retirement-$675K assets

Prospect flagsFailed to provide benefit

How to read this page

Total assets (EOY)

$17.2M

+19.4% from 2015

Total participants

247

+11.8% from 2015

Average account balance

$71,859

+3.4% from 2015

Annual return

11.29%

+9.58 pp from 2015

Benchmarks

See 2,214 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,214 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$37.82M

Not enough data

1 years with asset history on file

Average account balance

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

$106K

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.

357

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.

97.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.90M

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

+13.07%

Not enough data

1 years with return on file

Admin fee / account holder

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

$253

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
MCPHILLIPS, ROBERTS & DEANS, PLC2+ years Service code 13 150 BOUSH STREET · NORFOLK, VA 23510	Contract Administrator	$20,920
YOUNT, HYDE & BARBOUR, P.C.2+ years Filed as: YOUNT, HYDE & BARBOUR, PC Service code 10 · EIN 54-1149263 50 SOUTH CAMERON ST · WINCHESTER, VA 226041760	Accounting	$2,983
AMERICAN FUNDS2+ years Filed as: CAPITAL RESEARCH & MGMT CO. INC. Service code 64 333 SOUTH HOPE STREET · LOS ANGELES, CA 90071	Recordkeeping Fees	$375
INFINEX INVESTMENTS INC1 year Filed as: INFINEX INVESTMENTS, INC. Service code 55 538 PRESTON AVENUE · MERIDAN, CT 06450	Other Commissions	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D

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.
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

1 tripped

ComplianceFailed to provide benefit
Form 5500 reported that benefits due were not provided when due.

Expense breakdown

Schedule H Part II

Admin total

$24K

$116 / participant

Other / not subdivided$24K100.0%

% of EOY assets

0.139%

all-in expense ratio

Categories reported

0 / 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: ELLIOTT DAVIS DECOSIMO, PLLC
Auditor EIN: 570381582
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$71,859

$74,089-3.0%

$133,975-46.4%

$55,167+30.3%

Participation rate

96.1%

84.3%+11.8pp

87.1%+9.1pp

69.0%+27.1pp

Annual return

11.29%

12.11%-0.8pp

29.29%-18.0pp

169.23%-157.9pp

Employer contribution / active EE

$2,432

$3,064-20.6%

$5,211-53.3%

$1,963+23.9%

Participant deferral / active EE

$4,724

$4,678+1.0%

$6,282-24.8%

$3,054+54.7%

Admin fee / account holder

$100

$458-78.2%

$9,324-98.9%

$504-80.2%

Provider

Service type

Compensation

MCPHILLIPS, ROBERTS & DEANS, PLC2+ years

Service code 13

150 BOUSH STREET · NORFOLK, VA 23510

Contract Administrator

$20,920

YOUNT, HYDE & BARBOUR, P.C.2+ years

Filed as: YOUNT, HYDE & BARBOUR, PC

Service code 10 · EIN 54-1149263

50 SOUTH CAMERON ST · WINCHESTER, VA 226041760

Accounting

$2,983

AMERICAN FUNDS2+ years

Filed as: CAPITAL RESEARCH & MGMT CO. INC.

Service code 64

333 SOUTH HOPE STREET · LOS ANGELES, CA 90071

Recordkeeping Fees

$375

INFINEX INVESTMENTS INC1 year

Filed as: INFINEX INVESTMENTS, INC.

Service code 55

538 PRESTON AVENUE · MERIDAN, CT 06450

Other Commissions

CHESAPEAKE FINANCIAL SHARES, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CHESAPEAKE FINANCIAL SHARES, INC. 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