Retirement plan

FIRST STATE BANK OF THE SOUTHEAST, INC. 401(K) PROFIT SHARING PLAN

Name: FIRST STATE BANK OF THE SOUTHEAST, INC. - FIRST STATE BANK OF THE SOUTHEAST, INC. 401(K) PROFIT SHARING PLAN (2019) Form 5500
Creator: FIRST STATE BANK OF THE SOUTHEAST, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST STATE BANK OF THE SOUTHEAST, INC. 401(K) PROFIT SHARING PLAN, FIRST STATE BANK OF THE SOUTHEAST, INC.

FIRST STATE BANK OF THE SOUTHEAST, INC.EIN 61-0192880Plan #002PY 2019

1810 CUMBERLAND AVENUE - MIDDLESBORO, KY 40965859-248-5950

Prospect flagsLow returnsHigh cash

How to read this page

Total assets (EOY)

$7.2M

-5.8% from 2018

Total participants

-6.7% from 2018

Average account balance

$82,181

+3.9% from 2018

Annual return

15.71%

+20.70 pp from 2018

Benchmarks

See 7,338 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,338 peers

Snapshot2019

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

$292K

Not enough data

1 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

+10.45%

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

Top 2 by compensation

Provider	Service type	Compensation
CETERA ADVISOR NETWORKS LLC5+ years Service code 55 · EIN 95-3845382	Other Commissions	$37,152
FIDELITY INVESTMENTS INSTITUTIONAL5+ years Service code 60 · EIN 04-2647786	Sub-TA Fees	$75

Plan features & details

Pension benefit codes2E2G2J3D

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.
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.
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

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.

Expense breakdown

Schedule H Part II

Admin total

$75

$1 / participant

Other / not subdivided$75100.0%

% of EOY assets

0.001%

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: JONES NALE AND MATTINGLY PLC
Auditor EIN: 610420207
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$82,181

$109,359-24.9%

$162,185-49.3%

$72,976+12.6%

Participation rate

87.8%

84.3%+3.6pp

87.6%+0.3pp

69.5%+18.3pp

Annual return

15.71%

25.46%-9.7pp

115.61%-99.9pp

81.02%-65.3pp

Employer contribution / active EE

$2,123

$3,907-45.7%

$5,613-62.2%

$2,440-13.0%

Participant deferral / active EE

$2,886

$5,481-47.4%

$7,297-60.5%

$3,608-20.0%

Admin fee / account holder

$7,972-100.0%

$10,844-100.0%

$5,124-100.0%

Provider

Service type

Compensation

CETERA ADVISOR NETWORKS LLC5+ years

Service code 55 · EIN 95-3845382

Other Commissions

$37,152

FIDELITY INVESTMENTS INSTITUTIONAL5+ years

Service code 60 · EIN 04-2647786

Sub-TA Fees

$75

FIRST STATE BANK OF THE SOUTHEAST, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST STATE BANK OF THE SOUTHEAST, 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