Sound Community Bank 401(K) Profit Sharing Plan — Form 5500 plan (Sound Community 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, Sound Community Bank 401(K) Profit Sharing Plan is a benefit plan reported by Sound Community Bank under EIN 91-0619653 and plan number 001. The latest loaded filing year is 2023. The filing reports 174 participants and $12,522,092 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Sound Community Bank
- EIN
- 91-0619653
- Plan number
- 001
- Plan type
- 2
- Location
- Seattle, WA
- Latest filing year
- 2023
- Participants
- 174
- End-of-year plan assets
- $12,522,092
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 174 | H, C | 20241010060528NAL0019663601001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $12,522,092
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $12,522,092
- Net assets (BOY)
- $10,297,584
Income & contributions
- Employer contributions
- $273,760
- Participant contributions
- $872,151
- Total contributions
- $1,216,521
- Total income / additions
- $2,749,866
Expenses & distributions
- Benefits paid
- $471,636
- Administrative expenses
- $53,722
- Total expenses
- $525,358
- Net increase / (decrease)
- $2,224,508
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Pentegra Retirement Services | RECORDKEEPER | $53,277 | $0 | 2023 |
| Empower Annuity | RECORDKEEPER | $134 | $0 | 2023 |