Retirement plan

MAYVILLE STATE BANK PROFIT SHARING AND RETIREMENT TRUST PLAN

Name: MAYVILLE STATE BANK - MAYVILLE STATE BANK PROFIT SHARING AND RETIREMENT TRUST PLAN (2016) Form 5500
Creator: MAYVILLE STATE BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MAYVILLE STATE BANK PROFIT SHARING AND RETIREMENT TRUST PLAN, MAYVILLE STATE BANK

MAYVILLE STATE BANKEIN 38-0803180Plan #001PY 2016

6104 FULTON ST., PO BOX 650 - MAYVILLE, MI 48744989-843-6145mayvillestatebank.comLinkedIn1-10 employeesbanking

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$3.3M

+2.5% from 2015

Total participants

-4.9% from 2015

Average account balance

$84,146

+7.8% from 2015

Annual return

1.37%

-0.33 pp from 2015

Benchmarks

See 7,671 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,671 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.48M

Not enough data

1 years with asset history on file

Average account balance

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

$151K

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.

90.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$73K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$3K

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

+17.25%

Not enough data

1 years with return on file

Admin fee / account holder

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

$19139

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 codes2E2F2H2J2T3D

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.
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.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$60K

$2387 / participant

Other / not subdivided$60K100.0%

% of EOY assets

1.818%

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

$84,146

$87,834-4.2%

$133,975-37.2%

$62,881+33.8%

Participation rate

100.0%

83.4%+16.6pp

87.1%+12.9pp

69.3%+30.7pp

Annual return

1.37%

12.05%-10.7pp

29.29%-27.9pp

20.14%-18.8pp

Employer contribution / active EE

$1,120

$3,482-67.8%

$5,211-78.5%

$2,281-50.9%

Participant deferral / active EE

$2,506

$4,812-47.9%

$6,282-60.1%

$3,203-21.8%

Admin fee / account holder

$1,530

$5,372-71.5%

$9,324-83.6%

$4,296-64.4%

MAYVILLE STATE BANK PROFIT SHARING AND RETIREMENT TRUST PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MAYVILLE STATE BANK PROFIT SHARING AND RETIREMENT TRUST 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