Retirement plan

MANUFACTURERS BANK SAVINGS SYSTEM

Name: MANUFACTURERS BANK - MANUFACTURERS BANK SAVINGS SYSTEM (2021) Form 5500
Creator: MANUFACTURERS BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MANUFACTURERS BANK SAVINGS SYSTEM, MANUFACTURERS BANK

MANUFACTURERS BANKEIN 95-2221647Plan #002PY 2021

515 SOUTH FIGUEROA STREET, 5TH FLR - LOS ANGELES, CA 90071213-489-6438smbcmanubank.comLinkedIn501-1000 employeesbanking

Prospect flagsHigh fees

Top hat statement on fileNQDC

Filed March 1, 2006 (most recent of 2 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$70.2M

+12.9% from 2020

Total participants

467

+18.5% from 2020

Average account balance

$173,393

-0.5% from 2020

Annual return

14.49%

+1.31 pp from 2020

Benchmarks

See 1,509 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,509 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$106.40M

Not enough data

1 years with asset history on file

Average account balance

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

$119K

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.

895

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.

81.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$15.72M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$18K

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

+19.72%

Not enough data

1 years with return on file

Admin fee / account holder

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

$176

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 10 of 13 by compensation

Provider	Service type	Compensation
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: GREAT WEST LIFE & ANNUITY INSURANCE Service code 52 · EIN 84-0467907	Indirect Investment Fees	$192,439
SHUSTER ADVISORY GROUP, LLC1 year Filed as: SHUSTER ADVISORY GROUP LLC Service code 27 · EIN 46-4984194	Advisory (Plan)	$70,000
WITHUMSMITH+BROWN, PC2 years Filed as: WITHUM Service code 52 · EIN 22-2027092	Indirect Investment Fees	$10,556
AMERICAN FUNDS5 years Service code 52 · EIN 95-1411037	Indirect Investment Fees	$0
BLACKROCK5 years Service code 52 · EIN 04-6171663	Indirect Investment Fees	$0
DIMENSIONAL FUND ADVISORS5 years Service code 52 · EIN 36-3129984	Indirect Investment Fees	$0
JANUS HENDERSON5 years Service code 52 · EIN 84-0592523	Indirect Investment Fees	$0
LEGG MASON5 years Service code 52 · EIN 13-4146187	Indirect Investment Fees	$0
MASSACHUSETTS MUTUAL LIFE INS. CO.7+ years Service code 52	Indirect Investment Fees	$0
MFS INVESTMENT MANAGEMENT5 years Service code 52 · EIN 04-3158862	Indirect Investment Fees	$0

Plan features & details

Pension benefit codes2E2J2F2G2K3D3H2T

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

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

$192K

$539 / participant

Investment mgmt$186K96.5%
Contract admin$7K3.4%
Other / not subdivided$1750.1%

% of EOY assets

0.274%

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: WITHUM
Auditor EIN: 222027092
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$173,393

$111,491+55.5%

$189,537-8.5%

$86,821+99.7%

Participation rate

82.6%

87.3%-4.7pp

87.8%-5.2pp

72.3%+10.3pp

Annual return

14.49%

83.50%-69.0pp

555.34%-540.8pp

97.94%-83.4pp

Employer contribution / active EE

$2,031

$3,951-48.6%

$6,161-67.0%

$2,406-15.6%

Participant deferral / active EE

$8,162

$6,437+26.8%

$8,220-0.7%

$4,132+97.6%

Admin fee / account holder

$475

$189+151.8%

$12,048-96.1%

$170+180.2%

Provider

Service type

Compensation

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: GREAT WEST LIFE & ANNUITY INSURANCE

Service code 52 · EIN 84-0467907

Indirect Investment Fees

$192,439

SHUSTER ADVISORY GROUP, LLC1 year

Filed as: SHUSTER ADVISORY GROUP LLC

Service code 27 · EIN 46-4984194

Advisory (Plan)

$70,000

WITHUMSMITH+BROWN, PC2 years

Filed as: WITHUM

Service code 52 · EIN 22-2027092

Indirect Investment Fees

$10,556

AMERICAN FUNDS5 years

Service code 52 · EIN 95-1411037

Indirect Investment Fees

BLACKROCK5 years

Service code 52 · EIN 04-6171663

Indirect Investment Fees

DIMENSIONAL FUND ADVISORS5 years

Service code 52 · EIN 36-3129984

Indirect Investment Fees

JANUS HENDERSON5 years

Service code 52 · EIN 84-0592523

Indirect Investment Fees

LEGG MASON5 years

Service code 52 · EIN 13-4146187

Indirect Investment Fees

MASSACHUSETTS MUTUAL LIFE INS. CO.7+ years

Service code 52

Indirect Investment Fees

MFS INVESTMENT MANAGEMENT5 years

Service code 52 · EIN 04-3158862

Indirect Investment Fees

MANUFACTURERS BANK SAVINGS SYSTEM

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MANUFACTURERS BANK SAVINGS SYSTEM

Top hat statement on fileNQDC

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