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| Plan Name | SBERA 401(K) PLAN AS ADOPTED BY GEORGETOWN SAVINGS BANK |
| Plan identification number | 003 |
| 401k Plan Type | Defined Contribution Pension |
| Plan Features/Benefits |
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| Company Name: | SALEM FIVE CENTS SAVINGS BANK |
| Employer identification number (EIN): | 041802790 |
| NAIC Classification: | 522110 |
| NAIC Description: | Commercial Banking |
Additional information about SALEM FIVE CENTS SAVINGS BANK
| Jurisdiction of Incorporation: | Commonwealth of Massachusetts Corporations Division |
| Incorporation Date: | |
| Company Identification Number: | 000051667 |
More information about SALEM FIVE CENTS SAVINGS BANK
| Plan id# | Filing Submission Date | Name of Administrator | Date Administrator Signed | Name of Company Sponsor | Date Sponsor Signed |
|---|---|---|---|---|---|
| 003 | 2017-01-01 | THOMAS FORESE, JR. |
| Measure | Date | Value |
|---|---|---|
| 2017: SBERA 401(K) PLAN AS ADOPTED BY GEORGETOWN SAVINGS BANK 2017 401k membership | ||
| Total participants, beginning-of-year | 2017-01-01 | 114 |
| Total number of active participants reported on line 7a of the Form 5500 | 2017-01-01 | 0 |
| Number of retired or separated participants receiving benefits | 2017-01-01 | 0 |
| Number of other retired or separated participants entitled to future benefits | 2017-01-01 | 0 |
| Total of all active and inactive participants | 2017-01-01 | 0 |
| Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits | 2017-01-01 | 0 |
| Total participants | 2017-01-01 | 0 |
| Number of participants with account balances | 2017-01-01 | 0 |
| Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested | 2017-01-01 | 0 |
| Measure | Date | Value |
|---|---|---|
| 2017 : SBERA 401(K) PLAN AS ADOPTED BY GEORGETOWN SAVINGS BANK 2017 401k financial data | ||
| Total income from all sources | 2017-09-27 | $651,242 |
| Expenses. Total of all expenses incurred | 2017-09-27 | $7,015,189 |
| Benefits paid (including direct rollovers) | 2017-09-27 | $6,981,943 |
| Total plan assets at end of year | 2017-09-27 | $0 |
| Total plan assets at beginning of year | 2017-09-27 | $6,363,947 |
| Value of fidelity bond covering the plan | 2017-09-27 | $500,000 |
| Total contributions received or receivable from participants | 2017-09-27 | $114,086 |
| Contributions received from other sources (not participants or employers) | 2017-09-27 | $5,012 |
| Other income received | 2017-09-27 | $470,029 |
| Net income (gross income less expenses) | 2017-09-27 | $-6,363,947 |
| Net plan assets at end of year (total assets less liabilities) | 2017-09-27 | $0 |
| Net plan assets at beginning of year (total assets less liabilities) | 2017-09-27 | $6,363,947 |
| Assets. Value of participant loans | 2017-09-27 | $0 |
| Total contributions received or receivable from employer(s) | 2017-09-27 | $62,115 |
| Value of certain deemed distributions of participant loans | 2017-09-27 | $33,246 |
| 2017: SBERA 401(K) PLAN AS ADOPTED BY GEORGETOWN SAVINGS BANK 2017 form 5500 responses | ||
|---|---|---|
| 2017-01-01 | Type of plan entity | Single employer plan |
| 2017-01-01 | Submission has been amended | No |
| 2017-01-01 | This submission is the final filing | Yes |
| 2017-01-01 | This return/report is a short plan year return/report (less than 12 months) | Yes |
| 2017-01-01 | Plan is a collectively bargained plan | No |
| 2017-01-01 | Plan funding arrangement – Trust | Yes |
| 2017-01-01 | Plan benefit arrangement - Trust | Yes |
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