Retirement plan

SEATTLE BANK PROFIT SHARING & SALARY DEFERRAL PLAN

Name: SEATTLE BANK - SEATTLE BANK PROFIT SHARING & SALARY DEFERRAL PLAN (2016) Form 5500
Creator: SEATTLE BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SEATTLE BANK PROFIT SHARING & SALARY DEFERRAL PLAN, SEATTLE BANK

SEATTLE BANKEIN 91-1984151Plan #001PY 2016

600 UNIVERSITY STREET, SUITE 1850 - SEATTLE, WA 981011129206-568-7803seattlebank.comLinkedIn51-200 employeesbanking

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$10.9M

-7.4% from 2015

Total participants

122

+1.7% from 2015

Average account balance

$89,789

-8.1% from 2015

Annual return

7.22%

+8.05 pp from 2015

Benchmarks

See 7,671 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,671 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$18.31M

Not enough data

1 years with asset history on file

Average account balance

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

$106K

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.

173

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.30M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$14K

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

+12.14%

Not enough data

1 years with return on file

Admin fee / account holder

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

$371

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
TRAUTMANN MAHER & ASSOCIATES2+ years Filed as: TRAUTMANN MAHER & ASSOC INC Service code 15 · EIN 91-1526584	Recordkeeping	$22,939
ADVISORY SERVICES & INVESTMENTS2+ years Filed as: ADVISORY SERVICES & INVESTMENTS LLP Service code 16 · EIN 93-1238515	Consulting	$19,509
MOSS ADAMS LLP1 year Service code 10 · EIN 91-0189318	Accounting	$10,585
CHARLES SCHWAB & CO., INC.2+ years Filed as: CHARLES SCHWAB BANK Service code 19 · EIN 42-1558009	Securities Custodian	$4,342

Plan features & details

Pension benefit codes2E2G2J2K2F

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.

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

$57K

$1551 / participant

Investment mgmt$24K41.6%
Other / not subdivided$34K58.4%

% of EOY assets

0.528%

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$89,789

$87,834+2.2%

$133,975-33.0%

$62,881+42.8%

Participation rate

97.3%

83.4%+13.9pp

87.1%+10.2pp

69.3%+28.0pp

Annual return

7.22%

12.05%-4.8pp

29.29%-22.1pp

20.14%-12.9pp

Employer contribution / active EE

$2,226

$3,482-36.1%

$5,211-57.3%

$2,281-2.4%

Participant deferral / active EE

$7,601

$4,812+58.0%

$6,282+21.0%

$3,203+137.3%

Admin fee / account holder

$474

$5,372-91.2%

$9,324-94.9%

$4,296-89.0%

Provider

Service type

Compensation

TRAUTMANN MAHER & ASSOCIATES2+ years

Filed as: TRAUTMANN MAHER & ASSOC INC

Service code 15 · EIN 91-1526584

Recordkeeping

$22,939

ADVISORY SERVICES & INVESTMENTS2+ years

Filed as: ADVISORY SERVICES & INVESTMENTS LLP

Service code 16 · EIN 93-1238515

Consulting

$19,509

MOSS ADAMS LLP1 year

Service code 10 · EIN 91-0189318

Accounting

$10,585

CHARLES SCHWAB & CO., INC.2+ years

Filed as: CHARLES SCHWAB BANK

Service code 19 · EIN 42-1558009

Securities Custodian

$4,342

SEATTLE BANK PROFIT SHARING & SALARY DEFERRAL PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SEATTLE BANK PROFIT SHARING & SALARY DEFERRAL 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