Retirement plan

OLD NATIONAL BANK POOLED EMPLOYER PLAN

Name: OLD NATIONAL BANK - OLD NATIONAL BANK POOLED EMPLOYER PLAN (2023) Form 5500
Creator: OLD NATIONAL BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OLD NATIONAL BANK POOLED EMPLOYER PLAN, OLD NATIONAL BANK

OLD NATIONAL BANKEIN 35-1729164Plan #003PY 2023

PO BOX 207 - EVANSVILLE, IN 477020207812-465-7275oldnational.comLinkedIn1001-5000 employeesbanking

Prospect flagsLow participationLow employer contributionLow participant contributionFailed to transmit contributionsCorrective distributions

How to read this page

Total assets (EOY)

$36.6M

+21.7% from 2022

Total participants

886

-18.4% from 2022

Average account balance

$59,483

+19.0% from 2022

Annual return

21.15%

+42.41 pp from 2022

Benchmarks

See 1,521 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,521 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$40.25M

Not enough data

1 years with asset history on file

Average account balance

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

$66K

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.

611

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.

54.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$3.93M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+9.36%

Not enough data

1 years with return on file

Admin fee / account holder

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

$544

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

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
OLD NATIONAL WEALTH MANAGEMENT1 year Filed as: OLD NATIONAL BANK Service code 21 · EIN 35-1729164	Bank Trustee	$162,173
CHARLES SCHWAB & CO., INC.1 year Filed as: CHARLES SCHWAB TRUST BANK Service code 19 · EIN 82-3967259	Securities Custodian	$14,951
DESMOND & AHERN, LTD.1 year Service code 10 · EIN 36-3321958	Accounting	$10,000

Plan features & details

Pension benefit codes2A2E2F2G2J2K2T2W3D

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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.
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

5 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
ComplianceFailed to transmit contributions
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$171K

$227 / participant

Recordkeeping$5K3.2%
Trustee / custodial$155K91.0%
Other / not subdivided$10K5.9%

% of EOY assets

0.466%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: CLIFTON LARSON ALLEN LLP
Auditor EIN: 410746749
Audit fees: $10,000
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$59,483

$100,272-40.7%

$170,057-65.0%

$74,473-20.1%

Participation rate

64.0%

87.4%-23.4pp

87.0%-23.0pp

70.7%-6.7pp

Annual return

21.15%

66.12%-45.0pp

53.42%-32.3pp

34.36%-13.2pp

Employer contribution / active EE

$1,348

$4,266-68.4%

$6,790-80.1%

$2,638-48.9%

Participant deferral / active EE

$3,597

$7,147-49.7%

$10,411-65.4%

$4,530-20.6%

Admin fee / account holder

$277

$235+18.0%

$12,826-97.8%

$347-20.2%

Provider

Service type

Compensation

OLD NATIONAL WEALTH MANAGEMENT1 year

Filed as: OLD NATIONAL BANK

Service code 21 · EIN 35-1729164

Bank Trustee

$162,173

CHARLES SCHWAB & CO., INC.1 year

Filed as: CHARLES SCHWAB TRUST BANK

Service code 19 · EIN 82-3967259

Securities Custodian

$14,951

DESMOND & AHERN, LTD.1 year

Service code 10 · EIN 36-3321958

Accounting

$10,000

OLD NATIONAL BANK POOLED EMPLOYER PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OLD NATIONAL BANK POOLED EMPLOYER 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