Retirement plan

FIRST STATE BANK MINNESOTA 401(K) PLAN

Name: FIRST STATE BANK MINNESOTA - FIRST STATE BANK MINNESOTA 401(K) PLAN (2025) Form 5500
Creator: FIRST STATE BANK MINNESOTA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FIRST STATE BANK MINNESOTA 401(K) PLAN, FIRST STATE BANK MINNESOTA

FIRST STATE BANK MINNESOTAEIN 41-0257470Plan #001PY 2025

102 WEST MAIN AVENUE, PO BOX 369 - LEROY, MN 559510369507-324-5260fsbminnesota.comLinkedIn11-50 employeesgovernment administration

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$2M

-12.6% from 2024

Total participants

-11.1% from 2024

Average account balance

$123,698

-1.7% from 2024

Annual return

7.76%

-2.44 pp from 2024

Benchmarks

See 975 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants<25

Cohort975 peers

Snapshot2025

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.98M

Not enough data

1 years with asset history on file

Average account balance

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

$124K

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.

145.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$100K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+7.76%

Not enough data

1 years with return on file

Admin fee / account holder

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

$35806

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 codes2E2F2G2J2T3C3D

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.
3C
Plan not intended to be qualified
A plan not intended to be qualified under Code sections 401 403 or 408.
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

$573K

$52081 / participant

Other / not subdivided$573K100.0%

% of EOY assets

28.946%

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

$123,698

$172,758-28.4%

$149,600-17.3%

$138,895-10.9%

Participation rate

100.0%

80.2%+19.8pp

77.2%+22.8pp

79.9%+20.1pp

Annual return

7.76%

181.17%-173.4pp

129.59%-121.8pp

145.39%-137.6pp

Employer contribution / active EE

$5,214

$4,778+9.1%

$4,193+24.3%

$4,194+24.3%

Participant deferral / active EE

$3,885

$8,180-52.5%

$7,203-46.1%

$6,396-39.3%

Admin fee / account holder

$35,806

$17,615+103.3%

$13,963+156.4%

$12,562+185.0%

FIRST STATE BANK MINNESOTA 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FIRST STATE BANK MINNESOTA 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