Retirement plan

PARKWAY BANCORP, INC. 401(K) PLAN

Name: PARKWAY BANCORP, INC. - PARKWAY BANCORP, INC. 401(K) PLAN (2024) Form 5500
Creator: PARKWAY BANCORP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PARKWAY BANCORP, INC. 401(K) PLAN, PARKWAY BANCORP, INC.

PARKWAY BANCORP, INC.EIN 36-2694975Plan #002PY 2024

4800 NORTH HARLEM AVENUE - HARWOOD HEIGHTS, IL 60706708-869-2629LinkedIn1-10 employeesinformation technology and services

Prospect flagsLow returnsCorrective distributions

How to read this page

Total assets (EOY)

$31.8M

+10.2% from 2023

Total participants

404

-4.5% from 2023

Average account balance

$81,169

+14.1% from 2023

Annual return

12.30%

-1.69 pp from 2023

Benchmarks

See 262 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants250-999

Cohort262 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$31.82M

Not enough data

1 years with asset history on file

Average account balance

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

$81K

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.

392

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.

95.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.47M

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

+12.30%

Not enough data

1 years with return on file

Admin fee / account holder

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

$234

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
RAYMOND JAMES FINANCIAL SERVICES4 years Filed as: RAYMOND JAMES & ASSOC., INC Service code 26 · EIN 59-1237041	Advisory (Participants)	$55,494
NEWPORT GROUP, INC.9 years Service code 15 · EIN 27-2037969	Recordkeeping	$36,280
LEGACY PROFESSIONALS LLP1 year Filed as: LEGACY PROFESSIONALS, LLC Service code 10 · EIN 32-0043599	Accounting	$21,000

Plan features & details

Pension benefit codes2E2F2G2J2R2S3D3H

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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 returns
Annual investment return is in the bottom quintile of the peer cohort.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$92K

$327 / participant

Recordkeeping$11K11.6%
Investment mgmt$55K60.5%
Contract admin$26K27.9%

% of EOY assets

0.288%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: LEGACY PROFESSIONALS, LLC
Auditor EIN: 320043599
Audit fees: $0
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$81,169

$89,588-9.4%

$133,698-39.3%

$77,762+4.4%

Participation rate

95.7%

74.3%+21.4pp

76.4%+19.3pp

70.6%+25.1pp

Annual return

12.30%

17.42%-5.1pp

580.90%-568.6pp

31.27%-19.0pp

Employer contribution / active EE

$1,815

$3,491-48.0%

$4,218-57.0%

$2,728-33.5%

Participant deferral / active EE

$3,438

$5,592-38.5%

$7,016-51.0%

$4,651-26.1%

Admin fee / account holder

$234

$539-56.6%

$6,703-96.5%

$433-46.0%

Provider

Service type

Compensation

RAYMOND JAMES FINANCIAL SERVICES4 years

Filed as: RAYMOND JAMES & ASSOC., INC

Service code 26 · EIN 59-1237041

Advisory (Participants)

$55,494

NEWPORT GROUP, INC.9 years

Service code 15 · EIN 27-2037969

Recordkeeping

$36,280

LEGACY PROFESSIONALS LLP1 year

Filed as: LEGACY PROFESSIONALS, LLC

Service code 10 · EIN 32-0043599

Accounting

$21,000

PARKWAY BANCORP, INC. 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PARKWAY BANCORP, INC. 401(K) 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