Retirement plan

BANK FIRST NATIONAL RETIREMENT PLAN

Name: BANK FIRST NATIONAL - BANK FIRST NATIONAL RETIREMENT PLAN (2018) Form 5500
Creator: BANK FIRST NATIONAL
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BANK FIRST NATIONAL RETIREMENT PLAN, BANK FIRST NATIONAL

BANK FIRST NATIONALEIN 39-1435359Plan #002PY 2018

402 N. 8TH STREET - MANITOWOC, WI 542210010920-652-3288bankfirstwi.bankLinkedIn201-500 employeesbanking

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$40.5M

+16.5% from 2017

Total participants

395

+11.3% from 2017

Average account balance

$102,735

+3.8% from 2017

Annual return

24.72%

+6.54 pp from 2017

Benchmarks

See 1,457 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,457 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$67.87M

Not enough data

1 years with asset history on file

Average account balance

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

$133K

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.

512

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.

97.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.25M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$12K

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

+13.54%

Not enough data

1 years with return on file

Admin fee / account holder

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

$366

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
NEWPORT GROUP, INC.2 years Service code 13 · EIN 27-2037969	Contract Administrator	$117,323
EPIC RETIREMENT PLAN SERVICES2 years Filed as: RETIREMENT PLAN SOLUTIONS Service code 26 734 CLINTON STREET · WAUKESHA, WI 53186	Advisory (Participants)	$44,082
PENTEGRA SERVICES, INC.4+ years Service code 15 · EIN 13-3745616 701 WESTCHESTER AVE. · WHITE PLAINS, NY 106043805	Recordkeeping	$6,430

Plan features & details

Pension benefit codes2F2H2J2L2S2T

Plan features

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.
2L
Code section 403(b)(1) arrangement
Plan uses a Code section 403(b)(1) annuity contract as a funding vehicle.
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.

Opportunity flags

1 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$168K

$653 / participant

Investment mgmt$44K26.3%
Contract admin$117K69.9%
Other / not subdivided$6K3.8%

% of EOY assets

0.415%

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: REILLY, PENNER & BENTON, LLP
Auditor EIN: 390747409
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$102,735

$80,005+28.4%

$140,019-26.6%

$55,725+84.4%

Participation rate

99.6%

87.0%+12.6pp

87.5%+12.1pp

70.9%+28.8pp

Annual return

24.72%

0.46%+24.3pp

651.17%-626.5pp

244.93%-220.2pp

Employer contribution / active EE

$3,800

$3,403+11.7%

$5,605-32.2%

$2,078+82.9%

Participant deferral / active EE

$5,079

$5,264-3.5%

$6,927-26.7%

$3,356+51.4%

Admin fee / account holder

$426

$116+268.2%

$10,705-96.0%

$115+269.8%

Provider

Service type

Compensation

NEWPORT GROUP, INC.2 years

Service code 13 · EIN 27-2037969

Contract Administrator

$117,323

EPIC RETIREMENT PLAN SERVICES2 years

Filed as: RETIREMENT PLAN SOLUTIONS

Service code 26

734 CLINTON STREET · WAUKESHA, WI 53186

Advisory (Participants)

$44,082

PENTEGRA SERVICES, INC.4+ years

Service code 15 · EIN 13-3745616

701 WESTCHESTER AVE. · WHITE PLAINS, NY 106043805

Recordkeeping

$6,430

BANK FIRST NATIONAL RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BANK FIRST NATIONAL RETIREMENT 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