Retirement plan

FIRST FEDERAL BANK 401(K) EMPLOYEE STOCK OWNERSHIP PLAN

Name: FIRST FEDERAL BANK - FIRST FEDERAL BANK 401(K) EMPLOYEE STOCK OWNERSHIP PLAN (2018) Form 5500
Creator: FIRST FEDERAL BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST FEDERAL BANK 401(K) EMPLOYEE STOCK OWNERSHIP PLAN, FIRST FEDERAL BANK

FIRST FEDERAL BANKEIN 62-0181465Plan #001PY 2018

611 EAST COLLEGE STREET - DICKSON, TN 37055615-446-2822ffbtn.comLinkedIn51-200 employeesbanking

Prospect flagsLow returnsLow employer contributionLow participant contributionRecently reached 100 employeesCorrective distributions

How to read this page

Total assets (EOY)

$8.7M

-10.1% from 2017

Total participants

158

+25.4% from 2017

Average account balance

$69,951

-30.4% from 2017

Annual return

-14.66%

-116.51 pp from 2017

Benchmarks

See 2,193 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,193 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.01M

Not enough data

1 years with asset history on file

Average account balance

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

$83K

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.

132

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.

75.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$377K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+14.57%

Not enough data

1 years with return on file

Admin fee / account holder

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

$48

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
RAYMOND JAMES FINANCIAL SERVICES1 year Filed as: RAYMOND JAMES FINANCIAL ADVISORS Service code 22	Insurance Broker	$7,860
ACUFF & ASSOCIATES, INC.1 year Service code 49 · EIN 62-1477251	Other Services	$6,725
GREAT-WEST LIFE & ANNUITY INSURANCE4+ years Filed as: GREAT-WEST LIFE & ANNUITY INS CO Service code 15 · EIN 84-0467907	Recordkeeping	$5,508
VOYA RETIREMENT INSURANCE & ANNUITY1 year Service code 15 · EIN 71-0294708	Recordkeeping	$546
RAYMOND JAMES FINANCIAL SERVICES1 year Service code 22 · EIN 59-1237041	Insurance Broker	$0

Reportable transactions (Schedule G)

2 rows

Counterparties on defaulted loans (Part 1), defaulted leases (Part 2), and non-exempt prohibited transactions (Part 3). Presence of any row warrants fiduciary review.

Category	Counterparty	Relationship / Terms	Address	Amount
Part 1 Loan in default	Counterparty name	Party in interest Five-year promissory note	1234 Example Ave City, ST 00000	$XXX,XXX
Part 1 Loan in default	Counterparty name	Party in interest Five-year promissory note	1234 Example Ave City, ST 00000	$XXX,XXX

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Plan features & details

Pension benefit codes2E2F2H2J2K2O2Q2T3H3I

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
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

5 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).
InformationalRecently reached 100 employees
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.

Expense breakdown

Schedule H Part II

Admin total

$7K

$46 / participant

Investment mgmt$6K85.3%
Contract admin$5708.7%
Other / not subdivided$3926.0%

% of EOY assets

0.076%

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: BLANKENSHIP CPA GROUP, PLLC
Auditor EIN: 450491842
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$69,951

$79,523-12.0%

$140,019-50.0%

$56,287+24.3%

Participation rate

76.4%

85.7%-9.3pp

87.5%-11.1pp

69.9%+6.5pp

Annual return

-14.66%

2.39%-17.0pp

651.15%-665.8pp

-9.96%-4.7pp

Employer contribution / active EE

$984

$3,350-70.6%

$5,605-82.4%

$2,111-53.4%

Participant deferral / active EE

$2,111

$5,129-58.8%

$6,927-69.5%

$3,350-37.0%

Admin fee / account holder

$53

$614-91.4%

$10,705-99.5%

$521-89.8%

Provider

Service type

Compensation

RAYMOND JAMES FINANCIAL SERVICES1 year

Filed as: RAYMOND JAMES FINANCIAL ADVISORS

Service code 22

Insurance Broker

$7,860

ACUFF & ASSOCIATES, INC.1 year

Service code 49 · EIN 62-1477251

Other Services

$6,725

GREAT-WEST LIFE & ANNUITY INSURANCE4+ years

Filed as: GREAT-WEST LIFE & ANNUITY INS CO

Service code 15 · EIN 84-0467907

Recordkeeping

$5,508

VOYA RETIREMENT INSURANCE & ANNUITY1 year

Service code 15 · EIN 71-0294708

Recordkeeping

$546

RAYMOND JAMES FINANCIAL SERVICES1 year

Service code 22 · EIN 59-1237041

Insurance Broker

FIRST FEDERAL BANK 401(K) EMPLOYEE STOCK OWNERSHIP PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Reportable transactions (Schedule G)

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST FEDERAL BANK 401(K) EMPLOYEE STOCK OWNERSHIP PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Reportable transactions (Schedule G)

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