Retirement plan

WADENA STATE BANK PROFIT SHARING PLAN

Name: WADENA STATE BANK - WADENA STATE BANK PROFIT SHARING PLAN (2017) 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 2017

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

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$6M

+16.9% from 2016

Total participants

0.0% from 2016

Average account balance

$222,694

+12.6% from 2016

Annual return

16.14%

+7.30 pp from 2016

Benchmarks

See 517 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants25-99

Cohort517 peers

Snapshot2017

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

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$212K

$7571 / participant

Other / not subdivided$212K100.0%

% of EOY assets

3.526%

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

$222,694

$82,523+169.9%

$115,752+92.4%

$70,126+217.6%

Participation rate

96.4%

74.0%+22.4pp

77.8%+18.7pp

69.5%+26.9pp

Annual return

16.14%

28.22%-12.1pp

19.41%-3.3pp

73.15%-57.0pp

Employer contribution / active EE

$7,510

$2,758+172.3%

$3,492+115.0%

$2,343+220.6%

Participant deferral / active EE

$1,453

$4,062-64.2%

$5,204-72.1%

$3,332-56.4%

Admin fee / account holder

$7,852

$4,552+72.5%

$6,278+25.1%

$4,645+69.0%

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