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 (2023) 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 2023

1751 GAMBELL STREET - ANCHORAGE, AK 99501907-777-3356

Prospect flagsNo flags tripped

Top hat statement on fileNQDC

Filed January 16, 2025

Plan administrator

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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)

$110.9M

+15.6% from 2022

Total participants

986

+14.7% from 2022

Average account balance

$113,994

-0.1% from 2022

Annual return

16.55%

+32.04 pp from 2022

Benchmarks

See 1,522 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,522 peers

Snapshot2023

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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
GREAT-WEST LIFE & ANNUITY INSURANCE2 years Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$77,426
GALLAGHER FIDUCIARY ADVISORS, LLC2 years Filed as: GALLAGHER BENEFIT SERVICES INC DBA Service code 27 1100 SUPERIOR AVE STE 1700 · CLEVELAND, OH 44114	Advisory (Plan)	$45,000
CROWE LLP6 years Service code 10 225 WEST WACKER DR STE 2600 · CHICAGO, IL 606061224	Accounting	$23,625
QDRO CONSULTANTS COMPANY, LLC3 years Service code 99 3071 PEARL ROAD · MEDINA, OH 44256	Other Fees	$300

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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$146K

$239 / participant

Recordkeeping$77K52.9%
Investment mgmt$45K30.7%
Other / not subdivided$24K16.4%

% of EOY assets

0.132%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: CROWE, LLP
Auditor EIN: 350921680
Audit fees: $23,625
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$113,994

$100,227+13.7%

$169,993-32.9%

$74,419+53.2%

Participation rate

97.9%

87.3%+10.6pp

87.0%+10.9pp

70.7%+27.2pp

Annual return

16.55%

66.08%-49.5pp

53.37%-36.8pp

34.38%-17.8pp

Employer contribution / active EE

$4,297

$4,263+0.8%

$6,785-36.7%

$2,637+62.9%

Participant deferral / active EE

$8,346

$7,143+16.8%

$10,408-19.8%

$4,528+84.3%

Admin fee / account holder

$150

$234-35.8%

$12,815-98.8%

$348-56.7%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE2 years

Filed as: EMPOWER ANNUITY INSURANCE COMPANY O

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$77,426

GALLAGHER FIDUCIARY ADVISORS, LLC2 years

Filed as: GALLAGHER BENEFIT SERVICES INC DBA

Service code 27

1100 SUPERIOR AVE STE 1700 · CLEVELAND, OH 44114

Advisory (Plan)

$45,000

CROWE LLP6 years

Service code 10

225 WEST WACKER DR STE 2600 · CHICAGO, IL 606061224

Accounting

$23,625

QDRO CONSULTANTS COMPANY, LLC3 years

Service code 99

3071 PEARL ROAD · MEDINA, OH 44256

Other Fees

$300

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