Retirement plan

CITIZENS BANK EMPLOYEE STOCK OWNERSHIP AND RETIREMENT SAVINGS PLAN

Name: THE CITIZENS BANK - CITIZENS BANK EMPLOYEE STOCK OWNERSHIP AND RETIREMENT SAVINGS PLAN (2016) Form 5500
Creator: THE CITIZENS BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CITIZENS BANK EMPLOYEE STOCK OWNERSHIP AND RETIREMENT SAVINGS PLAN, THE CITIZENS BANK

THE CITIZENS BANKEIN 85-0021005Plan #002PY 2016

500 WEST BROADWAY - FARMINGTON, NM 87401505-566-4808LinkedIn11-50 employeesbanking

Other plans on this EIN

1 filing

#003Retirement-$8.3M assets

Prospect flagsHigh feesHigh cashHigh assets / participant

How to read this page

Total assets (EOY)

$38.6M

-1.4% from 2015

Total participants

128

-1.5% from 2015

Average account balance

$306,279

+0.2% from 2015

Annual return

15.51%

+8.49 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

$23.96M

Not enough data

1 years with asset history on file

Average account balance

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

$196K

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.

122

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.

96.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 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

+17.10%

Not enough data

1 years with return on file

Admin fee / account holder

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

$498

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 3 by compensation

Provider	Service type	Compensation
GREATBANC TRUST COMPANY2+ years Service code 27 · EIN 36-3118054 801 WARRENVILLE RD · LISLE, IL 60532	Advisory (Plan)	$52,167
TRANSITION FINANCE STRATEGIES, LLC2+ years Filed as: TRANSITION FINANCE STRATEGIES Service code 13 · EIN 13-4238973 154 HANSEN ROAD · CHARLOTTESVILLE, VA 22911	Contract Administrator	$14,587
VINING SPARKS2+ years Service code 34 775 RIDGELAKE BLVD · MEMPHIS, TN 38120	Valuation (appraisals, etc.)	$11,250

Plan features & details

Pension benefit codes2E2I2O2Q3H3I

Plan features

2E
Profit-sharing
Profit-sharing plan.
2I
Stock bonus
Stock bonus plan.
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.
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

3 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$79K

$779 / participant

Investment mgmt$52K66.3%
Contract admin$15K18.5%
Other / not subdivided$12K15.2%

% of EOY assets

0.204%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FORTNER BAYNES
Auditor EIN: 840741890
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$306,279

$74,089+313.4%

$133,975+128.6%

$55,167+455.2%

Participation rate

98.0%

84.3%+13.7pp

87.1%+11.0pp

69.0%+29.0pp

Annual return

15.51%

12.11%+3.4pp

29.29%-13.8pp

169.23%-153.7pp

Employer contribution / active EE

$1,980

$3,064-35.4%

$5,211-62.0%

$1,963+0.9%

Participant deferral / active EE

$4,678-100.0%

$6,282-100.0%

$3,054-100.0%

Admin fee / account holder

$625

$458+36.3%

$9,324-93.3%

$504+24.0%

Provider

Service type

Compensation

GREATBANC TRUST COMPANY2+ years

Service code 27 · EIN 36-3118054

801 WARRENVILLE RD · LISLE, IL 60532

Advisory (Plan)

$52,167

TRANSITION FINANCE STRATEGIES, LLC2+ years

Filed as: TRANSITION FINANCE STRATEGIES

Service code 13 · EIN 13-4238973

154 HANSEN ROAD · CHARLOTTESVILLE, VA 22911

Contract Administrator

$14,587

VINING SPARKS2+ years

Service code 34

775 RIDGELAKE BLVD · MEMPHIS, TN 38120

Valuation (appraisals, etc.)

$11,250

CITIZENS BANK EMPLOYEE STOCK OWNERSHIP AND RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CITIZENS BANK EMPLOYEE STOCK OWNERSHIP AND RETIREMENT SAVINGS 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