Cornerstone Bank 401k Plan — Form 5500 plan (Cornerstone Bank)
Plain-English plan summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, Cornerstone Bank 401k Plan is a benefit plan reported by Cornerstone Bank under EIN 45-0117720 and plan number 001. The latest loaded filing year is 2023. The filing reports 245 participants and $23,200,570 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Cornerstone Bank
- EIN
- 45-0117720
- Plan number
- 001
- Plan type
- 2
- Location
- Fargo, ND
- Latest filing year
- 2023
- Participants
- 245
- End-of-year plan assets
- $23,200,570
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 245 | H, C | 20240823153902NAL0013491714001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $23,200,570
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $23,200,570
- Net assets (BOY)
- $19,344,878
Income & contributions
- Employer contributions
- $1,173,063
- Participant contributions
- $1,329,595
- Total contributions
- $2,883,007
- Total income / additions
- $6,560,497
Expenses & distributions
- Benefits paid
- $2,598,094
- Administrative expenses
- $106,711
- Total expenses
- $2,704,805
- Net increase / (decrease)
- $3,855,692
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Empower Annuity Insurance Company | RECORDKEEPER | $93,057 | $0 | 2023 |
| Lpl Financial LLC | BROKER/ADVISOR/OTHER | $552 | $78,410 | 2023 |
| Ascensus Holdings Inc | CONTRACT ADMIN | $1,755 | $10,000 | 2023 |
| Eide Bailly Llp | AUDITOR | $9,700 | not reported in the loaded dataset | 2023 |
| Empower Advisory Group | INV.MGMT | $4,984 | not reported in the loaded dataset | 2023 |
Related Form 5500 pages
- All Form 5500 plans for Cornerstone Bank
- 2023 Form 5500 filing
- Form 5500 filings in ND
- 401(k) and benefit plan filings in Fargo, ND
- Empower Annuity Insurance Company — Schedule C compensation
- Lpl Financial LLC — Schedule C compensation
- Ascensus Holdings Inc — Schedule C compensation
- Eide Bailly Llp — Schedule C compensation
- Empower Advisory Group — Schedule C compensation