Retirement plan

WADENA STATE BANK PROFIT SHARING PLAN

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

WADENA STATE BANKEIN 41-0596160Plan #001PY 2016

304 1ST STREET SE, PO BOX 191 - WADENA, MN 564820191218-631-1860wadenastatebank.comLinkedIn11-50 employeesbanking

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$5.1M

No prior year

Total participants

No prior year

Average account balance

$197,828

No prior year

Annual return

8.84%

No prior year

Benchmarks

See 511 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants25-99

Cohort511 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.63M

Not enough data

1 years with asset history on file

Average account balance

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

$306K

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.

118.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$422K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+13.07%

Not enough data

1 years with return on file

Admin fee / account holder

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

$8195

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 codes3D2E2G2F2T

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.
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

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

$224K

$8280 / participant

Other / not subdivided$224K100.0%

% of EOY assets

4.346%

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

$197,828

$72,114+174.3%

$108,745+81.9%

$62,881+214.6%

Participation rate

92.6%

74.6%+18.0pp

77.7%+14.9pp

69.3%+23.3pp

Annual return

8.84%

13.41%-4.6pp

46.22%-37.4pp

20.14%-11.3pp

Employer contribution / active EE

$8,868

$2,694+229.2%

$3,323+166.9%

$2,281+288.8%

Participant deferral / active EE

$1,838

$4,044-54.6%

$5,121-64.1%

$3,203-42.6%

Admin fee / account holder

$8,598

$4,608+86.6%

$6,144+40.0%

$4,296+100.2%

WADENA STATE BANK PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WADENA STATE BANK 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