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THE RETIREMENT PLAN FOR EMPLOYEES OF BEVERLY NATIONAL BANK 401k Plan overview

Plan NameTHE RETIREMENT PLAN FOR EMPLOYEES OF BEVERLY NATIONAL BANK
Plan identification number 008

THE RETIREMENT PLAN FOR EMPLOYEES OF BEVERLY NATIONAL BANK Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
  • Frozen Plan - As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

PEOPLE'S UNITED BANK, N.A. has sponsored the creation of one or more 401k plans.

Company Name:PEOPLE'S UNITED BANK, N.A.
Employer identification number (EIN):061213065
NAIC Classification:522110
NAIC Description:Commercial Banking

Form 5500 Filing Information

Submission information for form 5500 for 401k plan THE RETIREMENT PLAN FOR EMPLOYEES OF BEVERLY NATIONAL BANK

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0082012-01-01MICHELLE MCNEIL MICHELLE MCNEIL2013-10-08
0082011-01-01MICHELLE MCNEIL MICHELLE MCNEIL2012-11-16

Plan Statistics for THE RETIREMENT PLAN FOR EMPLOYEES OF BEVERLY NATIONAL BANK

401k plan membership statisitcs for THE RETIREMENT PLAN FOR EMPLOYEES OF BEVERLY NATIONAL BANK

Measure Date Value
2012: THE RETIREMENT PLAN FOR EMPLOYEES OF BEVERLY NATIONAL BANK 2012 401k membership
Total participants, beginning-of-year2012-01-01145
Total number of active participants reported on line 7a of the Form 55002012-01-010
Number of retired or separated participants receiving benefits2012-01-010
Number of other retired or separated participants entitled to future benefits2012-01-010
Total of all active and inactive participants2012-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2012-01-010
Total participants2012-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2012-01-010
2011: THE RETIREMENT PLAN FOR EMPLOYEES OF BEVERLY NATIONAL BANK 2011 401k membership
Total participants, beginning-of-year2011-01-01148
Total number of active participants reported on line 7a of the Form 55002011-01-0120
Number of retired or separated participants receiving benefits2011-01-0152
Number of other retired or separated participants entitled to future benefits2011-01-0170
Total of all active and inactive participants2011-01-01142
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2011-01-013
Total participants2011-01-01145
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2011-01-010

Financial Data on THE RETIREMENT PLAN FOR EMPLOYEES OF BEVERLY NATIONAL BANK

Measure Date Value
2012 : THE RETIREMENT PLAN FOR EMPLOYEES OF BEVERLY NATIONAL BANK 2012 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2012-12-31$-716,624
Total unrealized appreciation/depreciation of assets2012-12-31$-716,624
Total transfer of assets from this plan2012-12-31$6,170,234
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2012-12-31$0
Total income from all sources (including contributions)2012-12-31$206,984
Total loss/gain on sale of assets2012-12-31$421,109
Total of all expenses incurred2012-12-31$521,829
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2012-12-31$459,334
Total contributions o plan (from employers,participants, others, non cash contrinutions)2012-12-31$344,043
Value of total assets at end of year2012-12-31$0
Value of total assets at beginning of year2012-12-31$6,485,079
Total of administrative expenses incurred including professional, contract, advisory and management fees2012-12-31$62,495
Total interest from all sources2012-12-31$46,022
Total dividends received (eg from common stock, registered investment company shares)2012-12-31$122,767
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2012-12-31No
Administrative expenses professional fees incurred2012-12-31$14,925
Was this plan covered by a fidelity bond2012-12-31Yes
Value of fidelity bond cover2012-12-31$2,000,000
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2012-12-31$0
Were there any nonexempt tranactions with any party-in-interest2012-12-31No
Assets. Other investments not covered elsewhere at end of year2012-12-31$0
Assets. Other investments not covered elsewhere at beginning of year2012-12-31$50,242
Value of other receiveables (less allowance for doubtful accounts) at end of year2012-12-31$0
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2012-12-31$11,867
Other income not declared elsewhere2012-12-31$-10,333
Administrative expenses (other) incurred2012-12-31$34,775
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Value of net income/loss2012-12-31$-314,845
Value of net assets at end of year (total assets less liabilities)2012-12-31$0
Value of net assets at beginning of year (total assets less liabilities)2012-12-31$6,485,079
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2012-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2012-12-31No
Were any leases to which the plan was party in default or uncollectible2012-12-31No
Investment advisory and management fees2012-12-31$12,795
Value of interest in registered invesment companies (eg mutual funds) at end of year2012-12-31$0
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2012-12-31$2,540,639
Interest earned on other investments2012-12-31$18,709
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2012-12-31$0
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2012-12-31$522,386
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2012-12-31$522,386
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2012-12-31$27,313
Asset value of US Government securities at end of year2012-12-31$0
Asset value of US Government securities at beginning of year2012-12-31$428,639
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2012-12-31Yes
Was there a failure to transmit to the plan any participant contributions2012-12-31No
Has the plan failed to provide any benefit when due under the plan2012-12-31No
Contributions received in cash from employer2012-12-31$344,043
Employer contributions (assets) at end of year2012-12-31$0
Employer contributions (assets) at beginning of year2012-12-31$344,120
Income. Dividends from common stock2012-12-31$122,767
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2012-12-31$459,334
Asset. Corporate debt instrument debt (other) at end of year2012-12-31$0
Asset. Corporate debt instrument debt (other) at beginning of year2012-12-31$344,185
Assets. Corporate common stocks other than exployer securities at end of year2012-12-31$0
Assets. Corporate common stocks other than exployer securities at beginning of year2012-12-31$2,243,001
Did the plan have assets held for investment2012-12-31No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2012-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2012-12-31Yes
Aggregate proceeds on sale of assets2012-12-31$421,109
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2012-12-31No
Opinion of an independent qualified public accountant for this plan2012-12-31Unqualified
Accountancy firm name2012-12-31WOLF AND COMPANY, P.C.
Accountancy firm EIN2012-12-31042689883
2011 : THE RETIREMENT PLAN FOR EMPLOYEES OF BEVERLY NATIONAL BANK 2011 401k financial data
Unrealized appreciation/depreciation of other (non real estate) assets2011-12-31$-43,795
Total unrealized appreciation/depreciation of assets2011-12-31$-43,795
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2011-12-31$0
Total income from all sources (including contributions)2011-12-31$726,869
Total loss/gain on sale of assets2011-12-31$0
Total of all expenses incurred2011-12-31$516,140
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2011-12-31$455,642
Total contributions o plan (from employers,participants, others, non cash contrinutions)2011-12-31$624,767
Value of total assets at end of year2011-12-31$6,485,079
Value of total assets at beginning of year2011-12-31$6,274,350
Total of administrative expenses incurred including professional, contract, advisory and management fees2011-12-31$60,498
Total interest from all sources2011-12-31$28,652
Total dividends received (eg from common stock, registered investment company shares)2011-12-31$117,245
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2011-12-31No
Total dividends received from registered investment company shares (eg mutual funds)2011-12-31$60,738
Assets. Real estate other than employer real property at beginning of year2011-12-31$492,279
Administrative expenses professional fees incurred2011-12-31$6,057
Was this plan covered by a fidelity bond2011-12-31Yes
Value of fidelity bond cover2011-12-31$2,000,000
Total value of distributions paid in property other than in cash, annuity contracts, or publicly traded employer securities2011-12-31$0
Were there any nonexempt tranactions with any party-in-interest2011-12-31No
Assets. Other investments not covered elsewhere at end of year2011-12-31$50,242
Value of other receiveables (less allowance for doubtful accounts) at end of year2011-12-31$11,867
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2011-12-31$10,756
Administrative expenses (other) incurred2011-12-31$27,199
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Value of net income/loss2011-12-31$210,729
Value of net assets at end of year (total assets less liabilities)2011-12-31$6,485,079
Value of net assets at beginning of year (total assets less liabilities)2011-12-31$6,274,350
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2011-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2011-12-31No
Were any leases to which the plan was party in default or uncollectible2011-12-31No
Investment advisory and management fees2011-12-31$27,242
Value of interest in registered invesment companies (eg mutual funds) at end of year2011-12-31$2,540,639
Value of interest in registered invesment companies (eg mutual funds) at beginning of year2011-12-31$2,226,438
Income. Interest from US Government securities2011-12-31$13,349
Income. Interest from corporate debt instruments2011-12-31$10,513
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2011-12-31$522,386
Interest-bearing cash (include money market accounts & certificates of deposit) at beginning of the Year2011-12-31$500,069
Value of interest bearing cash (including money market accounts and certificates of deposits) at beginning of year2011-12-31$500,069
Interest earned from interest bearing cash (including money market accounts and certificates of deposit)2011-12-31$28,652
Asset value of US Government securities at end of year2011-12-31$478,881
Asset value of US Government securities at beginning of year2011-12-31$231,798
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2011-12-31Yes
Was there a failure to transmit to the plan any participant contributions2011-12-31No
Has the plan failed to provide any benefit when due under the plan2011-12-31No
Contributions received in cash from employer2011-12-31$624,767
Employer contributions (assets) at end of year2011-12-31$344,120
Employer contributions (assets) at beginning of year2011-12-31$259,011
Income. Dividends from common stock2011-12-31$117,245
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2011-12-31$455,642
Asset. Corporate debt instrument debt (other) at end of year2011-12-31$344,185
Asset. Corporate debt instrument debt (other) at beginning of year2011-12-31$266,086
Assets. Corporate common stocks other than exployer securities at end of year2011-12-31$2,243,001
Assets. Corporate common stocks other than exployer securities at beginning of year2011-12-31$2,287,913
Did the plan have assets held for investment2011-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2011-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2011-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2011-12-31No
Opinion of an independent qualified public accountant for this plan2011-12-31Unqualified
Accountancy firm name2011-12-31WOLF AND COMPANY, P.C.
Accountancy firm EIN2011-12-31042689883

Form 5500 Responses for THE RETIREMENT PLAN FOR EMPLOYEES OF BEVERLY NATIONAL BANK

2012: THE RETIREMENT PLAN FOR EMPLOYEES OF BEVERLY NATIONAL BANK 2012 form 5500 responses
2012-01-01Type of plan entitySingle employer plan
2012-01-01Submission has been amendedNo
2012-01-01This submission is the final filingYes
2012-01-01This return/report is a short plan year return/report (less than 12 months)No
2012-01-01Plan is a collectively bargained planNo
2012-01-01Plan funding arrangement – TrustYes
2012-01-01Plan benefit arrangement - TrustYes
2011: THE RETIREMENT PLAN FOR EMPLOYEES OF BEVERLY NATIONAL BANK 2011 form 5500 responses
2011-01-01Type of plan entitySingle employer plan
2011-01-01Submission has been amendedYes
2011-01-01This submission is the final filingNo
2011-01-01This return/report is a short plan year return/report (less than 12 months)No
2011-01-01Plan is a collectively bargained planNo
2011-01-01Plan funding arrangement – TrustYes
2011-01-01Plan benefit arrangement - TrustYes

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