Retirement plan

FIRST NATIONAL BANK ALASKA PROFIT SHARING & 401(K) PLAN

Name: FIRST NATIONAL BANK ALASKA - FIRST NATIONAL BANK ALASKA PROFIT SHARING & 401(K) PLAN (2016) Form 5500
Creator: FIRST NATIONAL BANK ALASKA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST NATIONAL BANK ALASKA PROFIT SHARING & 401(K) PLAN, FIRST NATIONAL BANK ALASKA

FIRST NATIONAL BANK ALASKAEIN 92-0006595Plan #002PY 2016

1751 GAMBELL STREET, SUITE 229 - ANCHORAGE, AK 99501907-777-3488

Prospect flagsHigh cash

Top hat statement on fileNQDC

Filed January 16, 2025

Plan administrator

Plan administrator name— Sign in and upgrade to view

PO BOX 100720 ATTN: BENEFITS

ANCHORAGE, AK 99510

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Plans declared (1)

First National Bank Alaska Deferred Compensation Plan55 emp

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Total assets (EOY)

$72.6M

+10.5% from 2015

Total participants

836

+0.6% from 2015

Average account balance

$88,768

+9.8% from 2015

Annual return

7.75%

+6.84 pp from 2015

Benchmarks

See 1,433 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,433 peers

Snapshot2016

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Analytics

Total assets (EOY)

Plan-year ending balance

$119.51M

Not enough data

1 years with asset history on file

Average account balance

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

$142K

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.

840

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.

96.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$8.14M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+12.98%

Not enough data

1 years with return on file

Admin fee / account holder

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

$198

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 4 by compensation

Provider	Service type	Compensation
NEWPORT GROUP, INC.1 year Service code 12 · EIN 27-2037969	Sub-transfer agency fees; Participant...	$118,124
LPL FINANCIAL1 year Filed as: FINANCIAL ADVOCATES INVESTMENT MGMT Service code 27 1601 COOPER POINT ROAD NW · OLYMPIA, WA 98502	Advisory (Plan)	$45,000
NEWPORT GROUP, INC.1 year Filed as: NEWPORT TRUST COMPANY Service code 12 · EIN 27-4411131	Claims processing; Custodial (securit...	$27,134
CROWE LLP2+ years Filed as: CROWE HORWATH LLP Service code 10 · EIN 35-0921680	Accounting	$20,500

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
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 cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.

Expense breakdown

Schedule H Part II

Admin total

$125K

$188 / participant

Investment mgmt$50K39.6%
Contract admin$55K44.0%
Other / not subdivided$21K16.3%

% of EOY assets

0.173%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: CROWE HORWATH LLP
Auditor EIN: 350921680
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$88,768

$71,802+23.6%

$133,980-33.7%

$57,658+54.0%

Participation rate

97.3%

85.5%+11.8pp

87.1%+10.2pp

70.2%+27.1pp

Annual return

7.75%

13.51%-5.8pp

29.30%-21.5pp

5.13%+2.6pp

Employer contribution / active EE

$2,295

$3,161-27.4%

$5,211-56.0%

$1,974+16.3%

Participant deferral / active EE

$5,285

$4,606+14.8%

$6,282-15.9%

$3,061+72.7%

Admin fee / account holder

$153

$88+74.9%

$9,324-98.4%

$95+62.2%

Provider

Service type

Compensation

NEWPORT GROUP, INC.1 year

Service code 12 · EIN 27-2037969

Sub-transfer agency fees; Participant...

$118,124

LPL FINANCIAL1 year

Filed as: FINANCIAL ADVOCATES INVESTMENT MGMT

Service code 27

1601 COOPER POINT ROAD NW · OLYMPIA, WA 98502

Advisory (Plan)

$45,000

NEWPORT GROUP, INC.1 year

Filed as: NEWPORT TRUST COMPANY

Service code 12 · EIN 27-4411131

Claims processing; Custodial (securit...

$27,134

CROWE LLP2+ years

Filed as: CROWE HORWATH LLP

Service code 10 · EIN 35-0921680

Accounting

$20,500

FIRST NATIONAL BANK ALASKA PROFIT SHARING & 401(K) 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

FIRST NATIONAL BANK ALASKA PROFIT SHARING & 401(K) 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