Retirement plan

FIRST FEDERAL SAVINGS & LOAN ASSOCIATION OF PORT ANGELES 401(K) PLAN

Name: FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF PORT ANGELES - FIRST FEDERAL SAVINGS & LOAN ASSOCIATION OF PORT ANGELES 401(K) PLAN (2019) Form 5500
Creator: FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF PORT ANGELES
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST FEDERAL SAVINGS & LOAN ASSOCIATION OF PORT ANGELES 401(K) PLAN, FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF PORT ANGELES

FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF PORT ANGELESEIN 91-0369590Plan #002PY 2019

105 WEST 8TH STREET - PORT ANGELES, WA 98362360-457-0461ourfirstfed.comLinkedIn201-500 employeesbanking

Prospect flagsLow returnsLow participation

How to read this page

Total assets (EOY)

$10.3M

+6.1% from 2018

Total participants

264

+10.9% from 2018

Average account balance

$53,873

+1.7% from 2018

Annual return

8.49%

-2.67 pp from 2018

Benchmarks

See 2,202 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,202 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$20.61M

Not enough data

1 years with asset history on file

Average account balance

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

$68K

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.

301

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.

97.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.40M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+19.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$319

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
NORTHWEST PLAN SERVICES, INC.4+ years Service code 13 · EIN 91-2090931 5446 CALIFORNIA AVE SW · SEATTLE, WA 98136	Contract Administrator	$22,681
DUNCAN & HALEY LTD4+ years Filed as: DUNCAN & HALEY, LTD Service code 26 · EIN 02-0532349 2753 SOUTH WASHINGTON STREET · SEATTLE, WA 98144	Advisory (Participants)	$19,267
MATRIX TRUST COMPANY4+ years Filed as: MG TRUST CO DBA MATRIX TRUST CO Service code 19 · EIN 75-3182674 717 17TH STREET · DENVER, CO 80202	Securities Custodian	$6,308

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

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$48K

$262 / participant

Investment mgmt$19K39.9%
Contract admin$6K13.1%
Other / not subdivided$23K47.0%

% of EOY assets

0.467%

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: MOSS ADAMS
Auditor EIN: 910189318
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$53,873

$98,982-45.6%

$162,185-66.8%

$65,186-17.4%

Participation rate

60.9%

85.8%-24.9pp

87.6%-26.7pp

70.2%-9.3pp

Annual return

8.49%

24.84%-16.4pp

115.61%-107.1pp

29.39%-20.9pp

Employer contribution / active EE

$1,363

$3,467-60.7%

$5,613-75.7%

$2,177-37.4%

Participant deferral / active EE

$3,803

$5,384-29.4%

$7,297-47.9%

$3,514+8.2%

Admin fee / account holder

$251

$596-57.9%

$10,844-97.7%

$847-70.3%

Provider

Service type

Compensation

NORTHWEST PLAN SERVICES, INC.4+ years

Service code 13 · EIN 91-2090931

5446 CALIFORNIA AVE SW · SEATTLE, WA 98136

Contract Administrator

$22,681

DUNCAN & HALEY LTD4+ years

Filed as: DUNCAN & HALEY, LTD

Service code 26 · EIN 02-0532349

2753 SOUTH WASHINGTON STREET · SEATTLE, WA 98144

Advisory (Participants)

$19,267

MATRIX TRUST COMPANY4+ years

Filed as: MG TRUST CO DBA MATRIX TRUST CO

Service code 19 · EIN 75-3182674

717 17TH STREET · DENVER, CO 80202

Securities Custodian

$6,308

FIRST FEDERAL SAVINGS & LOAN ASSOCIATION OF PORT ANGELES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST FEDERAL SAVINGS & LOAN ASSOCIATION OF PORT ANGELES 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