Retirement plan

LAKE BANK SHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN

Name: LAKE BANK SHARES, INC. - LAKE BANK SHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN (2016) Form 5500
Creator: LAKE BANK SHARES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, LAKE BANK SHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN, LAKE BANK SHARES, INC.

LAKE BANK SHARES, INC.EIN 41-1569569Plan #001PY 2016

437 BRIDGE AVE - ALBERT LEA, MN 560072954507-373-1481

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$10M

+4.3% from 2015

Total participants

+5.1% from 2015

Average account balance

$244,538

-0.8% from 2015

Annual return

7.58%

-15.70 pp from 2015

Benchmarks

See 30,342 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort30,342 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$17.07M

Not enough data

1 years with asset history on file

Average account balance

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

$449K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$350K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$16K

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

+7.44%

Not enough data

1 years with return on file

Admin fee / account holder

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

$50642

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 codes2I2P2Q3H3I

Plan features

2I
Stock bonus
Stock bonus plan.
2P
Leveraged ESOP
Employee stock ownership plan that acquires employer securities with borrowed money or other debt-financing techniques.
2Q
ESOP maintained by an S corporation
The employer maintaining this ESOP is an S corporation.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
3I
Employer securities investment required
Plan requiring that all or part of employer contributions be invested and held at least for a limited period in employer securities.

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

$592K

$25731 / participant

Other / not subdivided$592K100.0%

% of EOY assets

5.903%

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

$244,538

$153,769+59.0%

$133,975+82.5%

$273,972-10.7%

Participation rate

100.0%

88.4%+11.6pp

87.1%+12.9pp

83.0%+17.0pp

Annual return

7.58%

36.51%-28.9pp

29.29%-21.7pp

41.46%-33.9pp

Employer contribution / active EE

$11,957

$6,029+98.3%

$5,211+129.4%

$4,869+145.6%

Participant deferral / active EE

$6,958-100.0%

$6,282-100.0%

$5,287-100.0%

Admin fee / account holder

$14,435

$11,765+22.7%

$9,324+54.8%

$10,133+42.5%

LAKE BANK SHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

LAKE BANK SHARES, INC. EMPLOYEE STOCK OWNERSHIP 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