Retirement plan

MERCHANTS BANK OF COMMERCE 401K PROFIT SHARING PLAN

Name: COLUMBIA BANKING SYSTEM INC - MERCHANTS BANK OF COMMERCE 401K PROFIT SHARING PLAN (2021) Form 5500
Creator: COLUMBIA BANKING SYSTEM INC
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MERCHANTS BANK OF COMMERCE 401K PROFIT SHARING PLAN, COLUMBIA BANKING SYSTEM INC

COLUMBIA BANKING SYSTEM INCEIN 91-1422237Plan #001PY 2021

1951 CHURN CREEK ROAD - REDDING, CA 960020000916-677-5809LinkedIn1-10 employeesexecutive office

Other plans on this EIN

1 filing

#002Retirement-$263.1M assets

Prospect flagsHigh fees

Top hat statement on fileNQDC

Filed January 15, 2025 (most recent of 4 filings on file)

Plan administrator

Plan administrator name— Sign in and upgrade to view

1301 A Street, Suite 900

Tacoma, WA 98402

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Plans declared (1)

Columbia Banking System, Inc. Executive Change in Control and Severance Plan11 emp

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Total assets (EOY)

$21.3M

-94.6% from 2022

Total participants

238

-95.7% from 2022

Average account balance

$92,815

+26.4% from 2022

Annual return

14.18%

+30.26 pp from 2022

Benchmarks

See 2,179 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,179 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$761.33M

Not enough data

1 years with asset history on file

Average account balance

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

$103K

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.

7,418

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.

97.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$49.49M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+14.66%

Not enough data

1 years with return on file

Admin fee / account holder

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

$72

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 3 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1+ years Filed as: GREAT WEST LIFE & ANNUITY INSURANCE Service code 64 · EIN 84-0467907 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$47,637
CAPFINANCIAL PARTNERS LLC1+ years Service code 27 DBA CAPTRUST FINANCIAL · RALEIGH, NC 27609	Advisory (Plan)	$43,175
ROYAL ALLIANCE ASSOCIATES INC1+ years Service code 27 · EIN 93-0987232 10 EXCHANGE PLACE STE 1410 · JERSEY CITY, NJ 07302	Advisory (Plan)	$12,224

Plan features & details

Pension benefit codes2E2G2J2K3D

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.
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

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$104K

$596 / participant

Investment mgmt$104K100.0%

% of EOY assets

0.491%

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: BFBA LLP
Auditor EIN: 680000424
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$92,815

$121,341-23.5%

$189,534-51.0%

$79,395+16.9%

Participation rate

94.9%

86.1%+8.8pp

87.8%+7.1pp

70.7%+24.1pp

Annual return

14.18%

21.08%-6.9pp

555.39%-541.2pp

116.90%-102.7pp

Employer contribution / active EE

$3,796

$3,915-3.0%

$6,162-38.4%

$2,428+56.4%

Participant deferral / active EE

$8,149

$6,395+27.4%

$8,220-0.9%

$4,046+101.4%

Admin fee / account holder

$456

$651-30.1%

$12,049-96.2%

$626-27.2%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1+ years

Filed as: GREAT WEST LIFE & ANNUITY INSURANCE

Service code 64 · EIN 84-0467907

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$47,637

CAPFINANCIAL PARTNERS LLC1+ years

Service code 27

DBA CAPTRUST FINANCIAL · RALEIGH, NC 27609

Advisory (Plan)

$43,175

ROYAL ALLIANCE ASSOCIATES INC1+ years

Service code 27 · EIN 93-0987232

10 EXCHANGE PLACE STE 1410 · JERSEY CITY, NJ 07302

Advisory (Plan)

$12,224

MERCHANTS BANK OF COMMERCE 401K PROFIT SHARING PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MERCHANTS BANK OF COMMERCE 401K PROFIT SHARING PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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