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SBERA 401(K) PLAN AS ADOPTED BY GRANITE SAVINGS BANK 401k Plan overview

Plan NameSBERA 401(K) PLAN AS ADOPTED BY GRANITE SAVINGS BANK
Plan identification number 004

SBERA 401(K) PLAN AS ADOPTED BY GRANITE SAVINGS BANK Benefits

401k Plan TypeDefined Contribution Pension
Plan Features/Benefits
  • Profit-sharing
  • ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
  • Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
  • Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
  • Master plan - A pension plan that is made available by a sponsor for adoption by employers; that is the subject of a favorable opinion letter; and for which a single funding medium (for example, a trust or custodial account) is established for the joint use of all adopting employers.

401k Sponsoring company profile

CAPE ANN SAVINGS BANK has sponsored the creation of one or more 401k plans.

Company Name:CAPE ANN SAVINGS BANK
Employer identification number (EIN):041148820
NAIC Classification:522120
NAIC Description:Savings Institutions

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SBERA 401(K) PLAN AS ADOPTED BY GRANITE SAVINGS BANK

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0042015-01-01THOMAS FORESE, JR.
0042014-01-01THOMAS FORESE, JR.

Plan Statistics for SBERA 401(K) PLAN AS ADOPTED BY GRANITE SAVINGS BANK

401k plan membership statisitcs for SBERA 401(K) PLAN AS ADOPTED BY GRANITE SAVINGS BANK

Measure Date Value
2015: SBERA 401(K) PLAN AS ADOPTED BY GRANITE SAVINGS BANK 2015 401k membership
Total participants, beginning-of-year2015-01-0116
Total number of active participants reported on line 7a of the Form 55002015-01-010
Total of all active and inactive participants2015-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2015-01-010
Total participants2015-01-010
Number of participants with account balances2015-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2015-01-010
2014: SBERA 401(K) PLAN AS ADOPTED BY GRANITE SAVINGS BANK 2014 401k membership
Total participants, beginning-of-year2014-01-0117
Total number of active participants reported on line 7a of the Form 55002014-01-0114
Number of retired or separated participants receiving benefits2014-01-010
Number of other retired or separated participants entitled to future benefits2014-01-012
Total of all active and inactive participants2014-01-0116
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2014-01-010
Total participants2014-01-0116
Number of participants with account balances2014-01-0114
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2014-01-010

Financial Data on SBERA 401(K) PLAN AS ADOPTED BY GRANITE SAVINGS BANK

Measure Date Value
2015 : SBERA 401(K) PLAN AS ADOPTED BY GRANITE SAVINGS BANK 2015 401k financial data
Transfers to/from the plan2015-06-03$-969,582
Total income from all sources2015-06-03$16,900
Expenses. Total of all expenses incurred2015-06-03$0
Total plan assets at end of year2015-06-03$0
Total plan assets at beginning of year2015-06-03$952,682
Value of fidelity bond covering the plan2015-06-03$95,268
Total contributions received or receivable from participants2015-06-03$4,361
Other income received2015-06-03$12,539
Net income (gross income less expenses)2015-06-03$16,900
Net plan assets at end of year (total assets less liabilities)2015-06-03$0
Net plan assets at beginning of year (total assets less liabilities)2015-06-03$952,682
2014 : SBERA 401(K) PLAN AS ADOPTED BY GRANITE SAVINGS BANK 2014 401k financial data
Total income from all sources2014-12-31$72,004
Expenses. Total of all expenses incurred2014-12-31$64,477
Benefits paid (including direct rollovers)2014-12-31$64,477
Total plan assets at end of year2014-12-31$952,682
Total plan assets at beginning of year2014-12-31$945,155
Value of fidelity bond covering the plan2014-12-31$94,516
Total contributions received or receivable from participants2014-12-31$54,752
Other income received2014-12-31$17,252
Net income (gross income less expenses)2014-12-31$7,527
Net plan assets at end of year (total assets less liabilities)2014-12-31$952,682
Net plan assets at beginning of year (total assets less liabilities)2014-12-31$945,155
Assets. Value of participant loans2014-12-31$2,644

Form 5500 Responses for SBERA 401(K) PLAN AS ADOPTED BY GRANITE SAVINGS BANK

2015: SBERA 401(K) PLAN AS ADOPTED BY GRANITE SAVINGS BANK 2015 form 5500 responses
2015-01-01Type of plan entitySingle employer plan
2015-01-01Submission has been amendedNo
2015-01-01This submission is the final filingYes
2015-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2015-01-01Plan is a collectively bargained planNo
2015-01-01Plan funding arrangement – TrustYes
2015-01-01Plan benefit arrangement - TrustYes
2014: SBERA 401(K) PLAN AS ADOPTED BY GRANITE SAVINGS BANK 2014 form 5500 responses
2014-01-01Type of plan entitySingle employer plan
2014-01-01Submission has been amendedNo
2014-01-01This submission is the final filingNo
2014-01-01This return/report is a short plan year return/report (less than 12 months)No
2014-01-01Plan is a collectively bargained planNo
2014-01-01Plan funding arrangement – TrustYes
2014-01-01Plan benefit arrangement - TrustYes

Potentially related plans

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