Retirement plan

CITIZENS UNION BANCORP OF SHELBYVILLE, INC. EMPLOYEE STOCK OWNERSHIP PLAN (WITH 401(K) PROVISIONS)

Name: GERMAN AMERICAN BANCORP, INC. - CITIZENS UNION BANCORP OF SHELBYVILLE, INC. EMPLOYEE STOCK OWNERSHIP PLAN (WITH 401(K) PROVISIONS) (2022) Form 5500
Creator: GERMAN AMERICAN BANCORP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CITIZENS UNION BANCORP OF SHELBYVILLE, INC. EMPLOYEE STOCK OWNERSHIP PLAN (WITH 401(K) PROVISIONS), GERMAN AMERICAN BANCORP, INC.

GERMAN AMERICAN BANCORP, INC.EIN 35-1547518Plan #001PY 2022

1854 MIDLAND TRAIL - SHELBYVILLE, KY 400659112502-633-4450LinkedIn11-50 employeesfinancial services

Prospect flagsHigh feesWind-down / frozen

How to read this page

Total assets (EOY)

$11.7M

-89.5% from 2021

Total participants

128

-87.9% from 2021

Average account balance

$91,431

-19.0% from 2021

Annual return

-18.38%

-33.00 pp from 2021

Benchmarks

See 1,232 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants<25

Cohort1,232 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$120.85M

Not enough data

1 years with asset history on file

Average account balance

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

$116K

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.

1,044

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.

92.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$7.73M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+16.68%

Not enough data

1 years with return on file

Admin fee / account holder

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

$32

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

1 years with F_SCH_H allocation on file

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
STANCORP FINANCIAL GROUP1 year Service code 12 · EIN 93-1253576	Claims processing; Custodial (other t...	$65,837
RELIANCE TRUST COMPANY1 year Service code 19	Securities Custodian	$1,583

Plan features & details

Pension benefit codes2E2F2H2I2J2K2O2T

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2I
Stock bonus
Stock bonus plan.
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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
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.

Opportunity flags

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalWind-down / frozen
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.

Expense breakdown

Schedule H Part II

Admin total

$66K

Contract admin$66K100.0%

% of EOY assets

0.563%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FORVIS, LLP
Auditor EIN: 440160260
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$91,431

$147,727-38.1%

$115,756-21.0%

$134,532-32.0%

Participation rate

0.0%

80.4%-80.4pp

77.1%-77.1pp

81.2%-81.2pp

Annual return

-18.38%

73.96%-92.3pp

143.14%-161.5pp

418.27%-436.6pp

Employer contribution / active EE

$4,713-100.0%

$3,793-100.0%

$4,741-100.0%

Participant deferral / active EE

$7,563-100.0%

$6,254-100.0%

$6,401-100.0%

Admin fee / account holder

$514

$14,571-96.5%

$8,124-93.7%

$11,429-95.5%

Provider

Service type

Compensation

STANCORP FINANCIAL GROUP1 year

Service code 12 · EIN 93-1253576

Claims processing; Custodial (other t...

$65,837

RELIANCE TRUST COMPANY1 year

Service code 19

Securities Custodian

$1,583

CITIZENS UNION BANCORP OF SHELBYVILLE, INC. EMPLOYEE STOCK OWNERSHIP PLAN (WITH 401(K) PROVISIONS)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CITIZENS UNION BANCORP OF SHELBYVILLE, INC. EMPLOYEE STOCK OWNERSHIP PLAN (WITH 401(K) PROVISIONS)

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