Retirement plan

FIRST UTAH BANCORPORATION 401(K) RETIREMENT SAVINGS PLAN

Name: FIRST UTAH BANCORPORATION - FIRST UTAH BANCORPORATION 401(K) RETIREMENT SAVINGS PLAN (2018) Form 5500
Creator: FIRST UTAH BANCORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST UTAH BANCORPORATION 401(K) RETIREMENT SAVINGS PLAN, FIRST UTAH BANCORPORATION

FIRST UTAH BANCORPORATIONEIN 87-0344903Plan #001PY 2018

3826 S 2300 E - SALT LAKE CITY, UT 84109801-308-2216firstutahbank.comLinkedIn51-200 employeesbanking

Prospect flagsRecently reached 100 employeesCorrective distributions

How to read this page

Total assets (EOY)

$5.2M

+4.3% from 2017

Total participants

124

-1.6% from 2017

Average account balance

$50,165

-0.7% from 2017

Annual return

-5.62%

-21.27 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

$11.23M

Not enough data

1 years with asset history on file

Average account balance

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

$86K

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.

130

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.

72.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.05M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+15.77%

Not enough data

1 years with return on file

Admin fee / account holder

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

$333

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 4 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$18,855
MORGAN STANLEY SMITH BARNEY1 year Filed as: MORGAN STANLEY SMITH BARNEY LLC Service code 55 1 NEW YORK PLZ 12TH FL · NEW YORK, NY 10004	Other Commissions	$4,756
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER RETIREMENT ADVISORY SERVICE Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$600
MORGAN STANLEY SMITH BARNEY1 year Filed as: MORGAN STANLEY INSURANCE SERVICES I Service code 55 1 NEW YORK PLZ 12TH FL · NEW YORK, NY 10004	Other Commissions	$156

Plan features & details

Pension benefit codes2E2F2G2J2K3D

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).
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.
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

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

$19K

$189 / participant

Contract admin$19K100.0%

% of EOY assets

0.373%

all-in expense ratio

Categories reported

1 / 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: TANNER LLC
Auditor EIN: 202253063
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$50,165

$79,523-36.9%

$140,019-64.2%

$56,287-10.9%

Participation rate

80.6%

85.7%-5.1pp

87.5%-6.9pp

69.9%+10.7pp

Annual return

-5.62%

2.39%-8.0pp

651.15%-656.8pp

-9.96%+4.3pp

Employer contribution / active EE

$2,861

$3,350-14.6%

$5,605-49.0%

$2,111+35.5%

Participant deferral / active EE

$5,451

$5,129+6.3%

$6,927-21.3%

$3,350+62.7%

Admin fee / account holder

$187

$614-69.5%

$10,705-98.3%

$521-64.1%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$18,855

MORGAN STANLEY SMITH BARNEY1 year

Filed as: MORGAN STANLEY SMITH BARNEY LLC

Service code 55

1 NEW YORK PLZ 12TH FL · NEW YORK, NY 10004

Other Commissions

$4,756

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER RETIREMENT ADVISORY SERVICE

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$600

MORGAN STANLEY SMITH BARNEY1 year

Filed as: MORGAN STANLEY INSURANCE SERVICES I

Service code 55

1 NEW YORK PLZ 12TH FL · NEW YORK, NY 10004

Other Commissions

$156

FIRST UTAH BANCORPORATION 401(K) RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST UTAH BANCORPORATION 401(K) 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