401k Plan data: SOUND COMMUNITY BANK plan

SOUND COMMUNITY BANK 401k Plan overview

Plan Name	SOUND COMMUNITY BANK
Plan identification number	501

SOUND COMMUNITY BANK Benefits

401k Plan Type

Welfare Benefit

Plan Features/Benefits

Health (other than dental or vision)
Life insurance
Dental
Vision
Temporary disability (accident and sickness)
Long-term disability cover
Death benefits (include travel accident but not life insurance)
Other welfare benefit cover
Unfunded, fully insured, or combination unfunded/insured welfare plan that will not file a Form 5500 for next plan year pursuant to 29 CFR 2520.104-20.
Unfunded, fully insured, or combination unfunded/insured welfare plan that stopped filing form 5500s in an earlier plan year pursuant to 29 CFR 2520.104-20.

401k Sponsoring company profile

SOUND COMMUNITY BANK has sponsored the creation of one or more 401k plans.

Company Name: SOUND COMMUNITY BANK

Employer identification number (EIN): 910619653

NAIC Classification: 522130
NAIC Description: Credit Unions

Additional information about SOUND COMMUNITY BANK

Jurisdiction of Incorporation: Washington Secretary of State Corporations Division

Incorporation Date: 2012-12-28

Company Identification Number: 602574844

More information about SOUND COMMUNITY BANK

Form 5500 Filing Information

Submission information for form 5500 for 401k plan SOUND COMMUNITY BANK

Plan id# Filing Submission Date Name of Administrator Date Administrator Signed Name of Company Sponsor Date Sponsor Signed
501 2020-01-01 ERIN K. NICOLAUS 2021-03-26
501 2018-01-01

Plan id#	Filing Submission Date	Name of Administrator	Date Administrator Signed	Name of Company Sponsor	Date Sponsor Signed
501	2020-01-01	ERIN K. NICOLAUS	2021-03-26
501	2018-01-01

Plan Statistics for SOUND COMMUNITY BANK

401k plan membership statisitcs for SOUND COMMUNITY BANK

Measure Date Value
2020: SOUND COMMUNITY BANK 2020 401k membership
Total participants, beginning-of-year 2020-01-01 100
Total number of active participants reported on line 7a of the Form 5500 2020-01-01 90
Number of retired or separated participants receiving benefits 2020-01-01 2
Number of other retired or separated participants entitled to future benefits 2020-01-01 2
Total of all active and inactive participants 2020-01-01 94
Number of employers contributing to the scheme 2020-01-01 0
2018: SOUND COMMUNITY BANK 2018 401k membership
Total participants, beginning-of-year 2018-01-01 101
Total number of active participants reported on line 7a of the Form 5500 2018-01-01 98
Number of retired or separated participants receiving benefits 2018-01-01 3
Number of other retired or separated participants entitled to future benefits 2018-01-01 0
Total of all active and inactive participants 2018-01-01 101
Number of employers contributing to the scheme 2018-01-01 0

Measure	Date	Value
2020: SOUND COMMUNITY BANK 2020 401k membership
Total participants, beginning-of-year	2020-01-01	100
Total number of active participants reported on line 7a of the Form 5500	2020-01-01	90
Number of retired or separated participants receiving benefits	2020-01-01	2
Number of other retired or separated participants entitled to future benefits	2020-01-01	2
Total of all active and inactive participants	2020-01-01	94
Number of employers contributing to the scheme	2020-01-01	0
2018: SOUND COMMUNITY BANK 2018 401k membership
Total participants, beginning-of-year	2018-01-01	101
Total number of active participants reported on line 7a of the Form 5500	2018-01-01	98
Number of retired or separated participants receiving benefits	2018-01-01	3
Number of other retired or separated participants entitled to future benefits	2018-01-01	0
Total of all active and inactive participants	2018-01-01	101
Number of employers contributing to the scheme	2018-01-01	0

Form 5500 Responses for SOUND COMMUNITY BANK

2020: SOUND COMMUNITY BANK 2020 form 5500 responses
2020-01-01	Type of plan entity	Single employer plan
2020-01-01	Plan funding arrangement – Insurance	Yes
2020-01-01	Plan funding arrangement – General assets of the sponsor	Yes
2020-01-01	Plan benefit arrangement – Insurance	Yes
2020-01-01	Plan benefit arrangement – General assets of the sponsor	Yes
2018: SOUND COMMUNITY BANK 2018 form 5500 responses
2018-01-01	Type of plan entity	Single employer plan
2018-01-01	First time form 5500 has been submitted	Yes
2018-01-01	Plan funding arrangement – Insurance	Yes
2018-01-01	Plan funding arrangement – General assets of the sponsor	Yes
2018-01-01	Plan benefit arrangement – Insurance	Yes
2018-01-01	Plan benefit arrangement – General assets of the sponsor	Yes

Insurance Providers Used on plan

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )

Policy contract number

1072351

Policy instance

Insurance contract or identification number	1072351
Number of Individuals Covered	188
Insurance policy start date	2020-01-01
Insurance policy end date	2020-12-31
Total amount of commissions paid to insurance broker	USD $12,559
Total amount of fees paid to insurance company	USD $1,859
Dental Insurance Welfare Benefit	Yes
Vision Insurance Welfare Benefit	Yes
Life Insurance Welfare Benefit	Yes
Temporary Disability Insurance Welfare Benefit	Yes
Long Term Disability Insurance Welfare Benefit	Yes
Other welfare benefits provided	ACCIDENTAL DEATH AND DISMEMBERMENT, EMPLOYEE ASSISTANCE PROGRAM, ACCIDENT, CRITICAL ILLNESS
Welfare Benefit Premiums Paid to Carrier	USD $159,316
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No
Commission paid to Insurance Broker	USD $12,559
Amount paid for insurance broker fees	1859
Additional information about fees paid to insurance broker	BONUS
Insurance broker organization code?	3

SUN LIFE ASSURANCE COMPANY OF CANADA (National Association of Insurance Commissioners NAIC id number: 80802 )

Policy contract number

93398

Policy instance

Insurance contract or identification number	93398
Number of Individuals Covered	114
Insurance policy start date	2018-01-01
Insurance policy end date	2018-12-31
Total amount of commissions paid to insurance broker	USD $3,616
Total amount of fees paid to insurance company	USD $0
Life Insurance Welfare Benefit	Yes
Other welfare benefits provided	ACCIDENTAL DEATH AND DISMEMBERMENT
Welfare Benefit Premiums Paid to Carrier	USD $23,517
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No
Commission paid to Insurance Broker	USD $3,616
Amount paid for insurance broker fees	0
Insurance broker organization code?	3

SUN LIFE ASSURANCE COMPANY OF CANADA (National Association of Insurance Commissioners NAIC id number: 80802 )

Policy contract number

900P

Policy instance

Insurance contract or identification number	900P
Number of Individuals Covered	99
Insurance policy start date	2018-01-01
Insurance policy end date	2018-12-31
Total amount of commissions paid to insurance broker	USD $0
Total amount of fees paid to insurance company	USD $0
Health Insurance Welfare Benefit	Yes
Welfare Benefit Premiums Paid to Carrier	USD $206,629
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No

PRINCIPAL LIFE INSURANCE COMPANY (National Association of Insurance Commissioners NAIC id number: 61271 )

Policy contract number

1072351

Policy instance

Insurance contract or identification number	1072351
Number of Individuals Covered	192
Insurance policy start date	2018-01-01
Insurance policy end date	2018-12-31
Total amount of commissions paid to insurance broker	USD $6,744
Total amount of fees paid to insurance company	USD $576
Dental Insurance Welfare Benefit	Yes
Vision Insurance Welfare Benefit	Yes
Other welfare benefits provided	ACCIDENT
Welfare Benefit Premiums Paid to Carrier	USD $120,381
Did the insurance company fail to provide any information necessary to complete Schedule A of form 5500?	No
Commission paid to Insurance Broker	USD $6,744
Amount paid for insurance broker fees	576
Additional information about fees paid to insurance broker	BONUS
Insurance broker organization code?	3

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Company Name:	SOUND COMMUNITY BANK
Employer identification number (EIN):	910619653
NAIC Classification:	522130
NAIC Description:	Credit Unions

Jurisdiction of Incorporation:	Washington Secretary of State Corporations Division
Incorporation Date:	2012-12-28
Company Identification Number:	602574844