Retirement plan

MALVERN BANK 401K PLAN

Name: MALVERN BANK - MALVERN BANK 401K PLAN (2017) Form 5500
Creator: MALVERN BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MALVERN BANK 401K PLAN, MALVERN BANK

MALVERN BANKEIN 42-0392900Plan #001PY 2017

404 MAIN ST - MALVERN, IA 515510120712-624-8686malvern.bankLinkedIn11-50 employeesbanking

Prospect flagsHigh fees

Top hat statement on fileNQDC

Filed January 11, 2023

Plan administrator

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404 Main St.

Malvern, IA 51551

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Plans declared (1)

Supplemental Executive Retirement Plan2 emp

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Total assets (EOY)

$830K

-1.6% from 2016

Total participants

+11.8% from 2016

Average account balance

$43,676

-11.9% from 2016

Annual return

12.93%

+5.39 pp from 2016

Benchmarks

See 30,802 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort30,802 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$3.27M

Not enough data

1 years with asset history on file

Average account balance

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

$117K

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.

133.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$211K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+17.86%

Not enough data

1 years with return on file

Admin fee / account holder

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

$3736

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 codes2E2J2R3D2G

Plan features

2E
Profit-sharing
Profit-sharing plan.
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

$225K

$11845 / participant

Other / not subdivided$225K100.0%

% of EOY assets

27.121%

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

$43,676

$171,867-74.6%

$149,716-70.8%

$147,585-70.4%

Participation rate

100.0%

88.2%+11.8pp

87.1%+12.9pp

82.8%+17.2pp

Annual return

12.93%

2113.36%-2100.4pp

1501.67%-1488.7pp

578.58%-565.7pp

Employer contribution / active EE

$1,825

$6,275-70.9%

$5,444-66.5%

$4,876-62.6%

Participant deferral / active EE

$3,425

$7,270-52.9%

$6,568-47.9%

$5,439-37.0%

Admin fee / account holder

$11,845

$13,799-14.2%

$11,282+5.0%

$10,886+8.8%

MALVERN BANK 401K PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MALVERN BANK 401K PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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