Retirement plan

PARKWAY BANCORP, INC. 401(K) PLAN

Name: PARKWAY BANCORP, INC. - PARKWAY BANCORP, INC. 401(K) PLAN (2021) 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 2021

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

Prospect flagsLow participation

How to read this page

Total assets (EOY)

$29.2M

+12.3% from 2020

Total participants

400

-7.6% from 2020

Average account balance

$98,025

+59.4% from 2020

Annual return

14.91%

+1.44 pp from 2020

Benchmarks

See 252 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants250-999

Cohort252 peers

Snapshot2021

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 2 by compensation

Provider	Service type	Compensation
RAYMOND JAMES FINANCIAL SERVICES1 year Filed as: RAYMOND JAMES & ASSOC., INC Service code 26 · EIN 59-1237041	Advisory (Participants)	$31,019
NEWPORT GROUP, INC.6 years Service code 15 · EIN 27-2037969	Recordkeeping	$6,608

Plan features & details

Pension benefit codes2E2F2G2J2S2T3D3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
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

1 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.

Expense breakdown

Schedule H Part II

Admin total

$40K

$131 / participant

Investment mgmt$31K76.9%
Other / not subdivided$9K23.1%

% of EOY assets

0.138%

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: BANSLEY AND KIENER, LLP
Auditor EIN: 362152389
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$98,025

$89,904+9.0%

$453,569-78.4%

$86,821+12.9%

Participation rate

66.8%

75.7%-9.0pp

78.0%-11.2pp

72.3%-5.5pp

Annual return

14.91%

19.72%-4.8pp

64.43%-49.5pp

97.94%-83.0pp

Employer contribution / active EE

$1,340

$3,279-59.1%

$4,072-67.1%

$2,406-44.3%

Participant deferral / active EE

$2,555

$5,114-50.0%

$6,211-58.9%

$4,132-38.2%

Admin fee / account holder

$135

$156-13.0%

$11,214-98.8%

$170-20.1%

Provider

Service type

Compensation

RAYMOND JAMES FINANCIAL SERVICES1 year

Filed as: RAYMOND JAMES & ASSOC., INC

Service code 26 · EIN 59-1237041

Advisory (Participants)

$31,019

NEWPORT GROUP, INC.6 years

Service code 15 · EIN 27-2037969

Recordkeeping

$6,608

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