2023 Form 5500 filing — Cornerstone Bank 401(K) Plan
Plain-English filing 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, this is the 2023 Form 5500 filing (EFAST2 acknowledgement 20241004101519NAL0012089345001) for Cornerstone Bank 401(K) Plan, reported by Cornerstone Bank under EIN 04-1856390 and plan number 004. It reports 223 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20241004101519NAL0012089345001
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Cornerstone Bank
- EIN
- 04-1856390
- Plan number
- 004
- Location
- Southbridge, MA
- Participants
- 223
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $29,481,507
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $29,481,507
- Employer contributions
- $1,541,701
- Participant contributions
- $1,231,908
- Total income / additions
- $7,146,307
- Benefits paid
- $1,382,868
- Administrative expenses
- $51,968
- Total expenses
- $1,454,023
- Net increase / (decrease)
- $5,692,284
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Empower Annuity Insurance Company O | RECORDKEEPER | $47,596 | $0 |
| The Angell Pension Group Inc | CONTRACT ADMIN | $0 | $10,000 |
| Empower Advisory Group LLC | INVESTMENT MGMT | $5,844 | not reported in the loaded dataset |