Retirement plan

THE CITIZENS BANK PROFIT SHARING AND SAVINGS PLAN AND TRUST

Name: THE CITIZENS BANK OF PHILADELPHIA - THE CITIZENS BANK PROFIT SHARING AND SAVINGS PLAN AND TRUST (2021) Form 5500
Creator: THE CITIZENS BANK OF PHILADELPHIA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE CITIZENS BANK PROFIT SHARING AND SAVINGS PLAN AND TRUST, THE CITIZENS BANK OF PHILADELPHIA

THE CITIZENS BANK OF PHILADELPHIAEIN 64-0134511Plan #002PY 2021

521 MAIN STREET - PHILADELPHIA, MS 39350601-389-3372thecitizensbankphila.comLinkedIn201-500 employeesbanking

Prospect flagsFailed to provide benefit

Top hat statement on fileNQDC

Filed April 14, 2004

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$31M

+15.6% from 2020

Total participants

340

+0.6% from 2020

Average account balance

$94,109

+13.9% from 2020

Annual return

14.82%

-3.78 pp from 2020

Benchmarks

See 1,509 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,509 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$30.47M

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.

335

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.

97.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.00M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+13.85%

Not enough data

1 years with return on file

Admin fee / account holder

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

$302

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 4 by compensation

Provider	Service type	Compensation
NFP RETIREMENT INC1 year Filed as: NFP Service code 16 · EIN 33-0509143	Consulting	$75,380
HORNE LLP1 year Service code 10 · EIN 20-1941244	Accounting	$18,500
STRATEGIC ADVISORS, INC.5 years Service code 27 · EIN 04-2654524	Advisory (Plan)	$13,504
FIDELITY INVESTMENTS INSTITUTIONAL7+ years Service code 60 · EIN 04-2647786	Sub-TA Fees	-$15,261

Plan features & details

Pension benefit codes2E2G2J2K2R2T3D

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.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

$92K

$336 / participant

Investment mgmt$14K14.7%
Other / not subdivided$79K85.3%

% of EOY assets

0.298%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CHANCE, GAY & CIEGLO
Auditor EIN: 830974051
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$94,109

$111,491-15.6%

$189,537-50.3%

$86,821+8.4%

Participation rate

96.0%

87.3%+8.7pp

87.8%+8.2pp

72.3%+23.7pp

Annual return

14.82%

83.50%-68.7pp

555.34%-540.5pp

97.94%-83.1pp

Employer contribution / active EE

$2,621

$3,951-33.7%

$6,161-57.5%

$2,406+8.9%

Participant deferral / active EE

$4,157

$6,437-35.4%

$8,220-49.4%

$4,132+0.6%

Admin fee / account holder

$280

$189+48.4%

$12,048-97.7%

$170+65.1%

Provider

Service type

Compensation

NFP RETIREMENT INC1 year

Filed as: NFP

Service code 16 · EIN 33-0509143

Consulting

$75,380

HORNE LLP1 year

Service code 10 · EIN 20-1941244

Accounting

$18,500

STRATEGIC ADVISORS, INC.5 years

Service code 27 · EIN 04-2654524

Advisory (Plan)

$13,504

FIDELITY INVESTMENTS INSTITUTIONAL7+ years

Service code 60 · EIN 04-2647786

Sub-TA Fees

-$15,261

THE CITIZENS BANK PROFIT SHARING AND SAVINGS PLAN AND TRUST

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE CITIZENS BANK PROFIT SHARING AND SAVINGS PLAN AND TRUST

Top hat statement on fileNQDC

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