Retirement plan

FIRST CENTRAL BANK PROFIT SHARING PLAN

Name: FIRST CENTRAL BANK - FIRST CENTRAL BANK PROFIT SHARING PLAN (2024) Form 5500
Creator: FIRST CENTRAL BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST CENTRAL BANK PROFIT SHARING PLAN, FIRST CENTRAL BANK

FIRST CENTRAL BANKEIN 20-5045553Plan #001PY 2024

PO BOX 280 - CAMBRIDGE, NE 69022308-697-4344

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$5.8M

+10.5% from 2023

Total participants

0.0% from 2023

Average account balance

$106,526

+4.3% from 2023

Annual return

13.25%

-3.92 pp from 2023

Benchmarks

See 7,155 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,155 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.75M

Not enough data

1 years with asset history on file

Average account balance

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

$107K

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.

110.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$280K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+13.25%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8107

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 codes2E2F2G2J3D3H

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow participant contribution
Participant 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

$438K

$8934 / participant

Other / not subdivided$438K100.0%

% of EOY assets

7.610%

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

$106,526

$138,386-23.0%

$184,260-42.2%

$80,935+31.6%

Participation rate

81.6%

83.9%-2.3pp

86.8%-5.2pp

67.7%+14.0pp

Annual return

13.25%

20.02%-6.8pp

28.84%-15.6pp

35.66%-22.4pp

Employer contribution / active EE

$2,760

$4,851-43.1%

$6,427-57.1%

$2,757+0.1%

Participant deferral / active EE

$2,952

$7,076-58.3%

$9,133-67.7%

$4,299-31.4%

Admin fee / account holder

$8,107

$10,489-22.7%

$13,898-41.7%

$6,924+17.1%

FIRST CENTRAL BANK PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST CENTRAL BANK PROFIT SHARING PLAN

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