Retirement plan

FIRST STATE BANK OF BEECHER CITY 401(K) PROFIT SHARING PLAN

Name: FIRST STATE BANK OF BEECHER CITY - FIRST STATE BANK OF BEECHER CITY 401(K) PROFIT SHARING PLAN (2020) Form 5500
Creator: FIRST STATE BANK OF BEECHER CITY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST STATE BANK OF BEECHER CITY 401(K) PROFIT SHARING PLAN, FIRST STATE BANK OF BEECHER CITY

FIRST STATE BANK OF BEECHER CITYEIN 37-0274995Plan #001PY 2020

PO BOX 36 - BEECHER CITY, IL 62414618-487-5161fsbbc.comLinkedIn11-50 employeesbanking

Prospect flagsHigh feesHigh assets / participant

How to read this page

Total assets (EOY)

$3.5M

+7.4% from 2019

Total participants

-14.3% from 2019

Average account balance

$293,101

+25.3% from 2019

Annual return

15.94%

-8.17 pp from 2019

Benchmarks

See 32,157 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort32,157 peers

Snapshot2020

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.50M

Not enough data

1 years with asset history on file

Average account balance

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

$367K

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.

107.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$135K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+15.50%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3448

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 codes2E2F2G2J2T3D

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.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

Expense breakdown

Schedule H Part II

Admin total

$397K

$36057 / participant

Other / not subdivided$397K100.0%

% of EOY assets

11.277%

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

$293,101

$197,603+48.3%

$177,827+64.8%

$158,950+84.4%

Participation rate

100.0%

88.5%+11.5pp

87.7%+12.3pp

82.0%+18.0pp

Annual return

15.94%

58.76%-42.8pp

48.32%-32.4pp

302.91%-287.0pp

Employer contribution / active EE

$3,586

$6,698-46.5%

$5,918-39.4%

$4,762-24.7%

Participant deferral / active EE

$6,118

$8,404-27.2%

$7,713-20.7%

$5,983+2.3%

Admin fee / account holder

$33,053

$15,402+114.6%

$12,429+165.9%

$11,248+193.8%

FIRST STATE BANK OF BEECHER CITY 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST STATE BANK OF BEECHER CITY 401(K) 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