New York › Finance and insurance › 100 to 249 participants
Form 5500 statement · plan year 1 Oct 2024 to 30 Sep 2025
The Retirement Plan of Rhinebeck Savings Bank
Sponsored by Rhinebeck Bank, Poughkeepsie, NY
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
The Retirement Plan of Rhinebeck Savings Bank is a defined benefit pension plan sponsored by Rhinebeck Bank of Poughkeepsie, New York. For the plan year ending 30 Sep 2025 it reported 180 participants, 27 of them active, and net assets of $19.0M.
Net assets came to $105,286 per participant, well above the $80,635 median for defined benefit plans with 100 to 249 participants and below the $119,983 median for defined benefit plans in finance and insurance. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
Schedule C lists 1 service provider organisation paid $5,000 or more, with reported compensation of $67K: $372 per participant, below the same-size median of $451. Administrative expenses charged to the plan were $67K. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $10.0M in 2009 to $19.0M in 2024 (up 89%), and participants from 201 to 180 (down 10%).
The independent accountant's opinion on the financial statements was unmodified (unqualified), from an audit whose scope was limited under ERISA section 103(a)(3)(C) to exclude investment information certified by a bank or insurer.
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | $105,286 | $80,635 | $119,983 | $86,221 |
| Employer contributions per active participant | — | $9,975 | $7,849 | $10,244 |
| Schedule C compensation per participant | $372 | $451 | $352 | $344 |
| Schedule C compensation, share of net assets | 0.35% | 0.52% | 0.32% | 0.42% |
| Administrative expenses per participant | $372 | $582 | $433 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 100 to 249 participants (1,156 plans), finance and insurance (690) and all US plans (5,308). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 180 | $19.0M | $105,283 | — | — | $67K |
| 2023 | 182 | $19.0M | $104,577 | — | — | $65K |
| 2022 | 186 | $16.5M | $88,715 | — | — | $58K |
| 2021 | 188 | $16.4M | $87,468 | — | — | $59K |
| 2020 | 188 | $22.2M | $118,080 | — | — | $59K |
| 2019 | 189 | $21.8M | $115,529 | $0 | $0 | $57K |
| 2018 | 191 | $20.4M | $106,565 | $0 | $0 | $71K |
| 2017 | 193 | $18.3M | $94,720 | $570K | $0 | $71K |
| 2016 | 194 | $17.8M | $91,675 | — | — | $0 |
| 2015 | 194 | $16.8M | $86,644 | — | — | $0 |
| 2014 | 197 | $15.8M | $80,269 | — | — | $0 |
| 2013 | 201 | $16.0M | $79,438 | — | — | $0 |
| 2012 | 204 | $15.1M | $73,838 | — | — | $157K |
| 2011 | 210 | $14.2M | $67,805 | $2.0M | — | $91K |
| 2010 | 210 | $10.9M | $51,938 | $1.0M | — | $98K |
| 2009 | 201 | $10.0M | $49,861 | $1.5M | — | $43K |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$19,033,165
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$819,893
- Benefits paid$834,608
- Administrative expenses$66,998
- Total expenses$901,606
- Net income−$81,713
- Net transfers$0
- Net assets, end of year$18,951,452
Participants
- Active participants27
- Retired or separated, receiving benefits81
- Retired or separated, entitled to future benefits71
- Participants with account balances0
- Total participants, end of year180
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Principal Life Insurance Company | Contract Administrator | $66,998 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Contract administrator fees$66,998
- Total administrative expenses$66,998
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Pooled separate accounts$19.0M · 100.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)Yes
- Accounting firmWolf & Company
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $4,000,000
- Blackout period during the year—
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
1ABenefits are primarily pay related1IFrozen plan3DPre-approved pension plan
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 522110: Commercial Banking.
Other plans of Rhinebeck Bank
| Plan | Participants | Net assets |
|---|---|---|
| Rhinebeck Bank 401(k) Plan | 240 | $33.4M |
| Rhinebeck Bank Employee Stock Ownership Plan | 147 | $508K |
Similar plans in New York
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| National Australia Bank Limited Pension Plan | National Australia Bank Limited | 182 | $35.0M | $192,068 |
| Pension Plan for Employees of Generali - US Branch | Generali - U.S. Branch | 179 | $36.7M | $204,977 |
| Retirement Income Plan for Employees of the Clearing House Payments Company L.L.C. | The Clearing House Payments Company L.L.C. | 185 | $47.4M | $255,951 |
| Exco Noonan Inc. Pension Plan | Exco Noonan Pension Plan LLC | 176 | $8.9M | $50,350 |
| The Pension Plan for Employees of KBC Bank N. V., New York Branch | KBC Bank N.V., New York Branch | 188 | $51.2M | $272,597 |
| DNB Bank Asa, New York Branch Pension Plan | DNB Bank Asa, New York Branch | 170 | $74.5M | $438,340 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is The Retirement Plan of Rhinebeck Savings Bank?
180 participants at the end of the plan year ending 30 Sep 2025, of whom 27 were active employees, with net assets of $18,951,452. Among defined benefit plans that places it in the 100 to 249 participants band, which held 1,156 plans in plan year 2024.
What does Rhinebeck Bank contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports $66,998 in compensation to service provider organisations, $372 per participant or 0.35% of net assets. The same-size median among plans reporting any Schedule C compensation was $451 per participant. Administrative expenses on Schedule H were $66,998. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is Rhinebeck Bank. Recordkeeping or administration: Principal Life Insurance Company. The financial statements were audited by Wolf & Company. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion from a limited-scope audit, in which the accountant did not audit investment information certified by a bank or insurance company. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Oct 2024 to 30 Sep 2025, received by the Department of Labor on 10 Aug 2026. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 14-1002430, plan 001, received 10 Aug 2026; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.