Retirement plan

VBA DEFINED CONTRIBUTION PLAN FOR OLD DOMINION NATIONAL BANK

Name: OLD DOMINION NATIONAL BANK - VBA DEFINED CONTRIBUTION PLAN FOR OLD DOMINION NATIONAL BANK (2021) Form 5500
Creator: OLD DOMINION NATIONAL BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VBA DEFINED CONTRIBUTION PLAN FOR OLD DOMINION NATIONAL BANK, OLD DOMINION NATIONAL BANK

OLD DOMINION NATIONAL BANKEIN 20-1286388Plan #001PY 2021

8601 WESTWOOD CENTER DRIVE - TYSONS CORNER, VA 22182571-299-6942odnbonline.comLinkedIn51-200 employeesbanking

Prospect flagsHigh feesLow employer contribution

How to read this page

Total assets (EOY)

$4.2M

+30.8% from 2020

Total participants

+6.0% from 2020

Average account balance

$57,015

+13.1% from 2020

Annual return

14.65%

-22.24 pp from 2020

Benchmarks

See 7,182 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,182 peers

Snapshot2021

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$7.60M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$84K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

119.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$962K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+12.46%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$2325

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

2 tripped

OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$139K

$1758 / participant

Other / not subdivided$139K100.0%

% of EOY assets

3.292%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$57,015

$137,414-58.5%

$189,545-69.9%

$85,851-33.6%

Participation rate

81.0%

84.6%-3.6pp

87.8%-6.8pp

69.3%+11.7pp

Annual return

14.65%

38.14%-23.5pp

555.36%-540.7pp

318.63%-304.0pp

Employer contribution / active EE

$809

$4,344-81.4%

$6,162-86.9%

$2,565-68.5%

Participant deferral / active EE

$7,159

$6,260+14.4%

$8,220-12.9%

$3,952+81.1%

Admin fee / account holder

$1,877

$8,630-78.3%

$12,049-84.4%

$6,261-70.0%

VBA DEFINED CONTRIBUTION PLAN FOR OLD DOMINION NATIONAL BANK

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VBA DEFINED CONTRIBUTION PLAN FOR OLD DOMINION NATIONAL BANK

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion