Retirement plan

PONCE BANK 401(K) PLAN

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

PONCE BANKEIN 82-2922475Plan #002PY 2018

2244 WESTCHESTER AVE. - BRONX, NY 10462718-931-9000poncebank.comLinkedIn51-200 employeesbanking

Other plans on this EIN

2 filings

#001Retirement-$14.4M assets #003Retirement-$9.2M assets

Prospect flagsHigh cashLow assets / participantCorrective distributions

How to read this page

Total assets (EOY)

$6.6M

+6.9% from 2017

Total participants

218

+12.4% from 2017

Average account balance

$31,750

-3.9% from 2017

Annual return

-2.55%

-21.12 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

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

$38K

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

-92.87%

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 1 by compensation

Provider	Service type	Compensation
FIDELITY INVESTMENTS INSTITUTIONAL2+ years Service code 37 · EIN 04-2647786	Loan Processing	$5,055

Plan features & details

Pension benefit codes2A2E2J2K3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
2E
Profit-sharing
Profit-sharing plan.
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.
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 cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$5K

$28 / participant

Other / not subdivided$5K100.0%

% of EOY assets

0.077%

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: MAZARS USA LLP
Auditor EIN: 131459550
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$31,750

$79,523-60.1%

$140,019-77.3%

$56,289-43.6%

Participation rate

93.8%

85.7%+8.1pp

87.5%+6.3pp

69.9%+24.0pp

Annual return

-2.55%

2.39%-4.9pp

651.17%-653.7pp

-9.96%+7.4pp

Employer contribution / active EE

$2,041

$3,350-39.1%

$5,605-63.6%

$2,111-3.3%

Participant deferral / active EE

$3,004

$5,129-41.4%

$6,927-56.6%

$3,350-10.3%

Admin fee / account holder

$24

$614-96.0%

$10,705-99.8%

$521-95.3%

Provider

Service type

Compensation

FIDELITY INVESTMENTS INSTITUTIONAL2+ years

Service code 37 · EIN 04-2647786

Loan Processing

$5,055

PONCE BANK 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PONCE BANK 401(K) 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