Retirement plan

STATE BANK OF SCHALLER 401(K) PROFIT SHARING PLAN

Name: STATE BANK OF SCHALLER - STATE BANK OF SCHALLER 401(K) PROFIT SHARING PLAN (2022) Form 5500
Creator: STATE BANK OF SCHALLER
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, STATE BANK OF SCHALLER 401(K) PROFIT SHARING PLAN, STATE BANK OF SCHALLER

STATE BANK OF SCHALLEREIN 42-0544430Plan #001PY 2022

PO BOX 69 - SCHALLER, IA 510530069712-275-4261statebankofwapello.comLinkedIn1-10 employeescivil engineering

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$431K

-19.5% from 2021

Total participants

0.0% from 2021

Average account balance

$53,861

-19.5% from 2021

Annual return

-19.80%

-33.37 pp from 2021

Benchmarks

See 35,220 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort35,220 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$367K

Not enough data

1 years with asset history on file

Average account balance

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

$61K

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.

120.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$6K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$1K

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

+12.32%

Not enough data

1 years with return on file

Admin fee / account holder

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

$1787

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 codes2E3D3H2J2F2G

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

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

$12K

$3922 / participant

Other / not subdivided$12K100.0%

% of EOY assets

2.731%

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

$53,861

$167,504-67.8%

$151,628-64.5%

$134,509-60.0%

Participation rate

100.0%

88.4%+11.6pp

87.5%+12.5pp

81.2%+18.8pp

Annual return

-19.80%

7.81%-27.6pp

3.34%-23.1pp

418.13%-437.9pp

Employer contribution / active EE

$3,253

$6,828-52.4%

$6,165-47.2%

$4,741-31.4%

Participant deferral / active EE

$879

$8,985-90.2%

$8,363-89.5%

$6,400-86.3%

Admin fee / account holder

$1,471

$13,779-89.3%

$11,613-87.3%

$11,427-87.1%

STATE BANK OF SCHALLER 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

STATE BANK OF SCHALLER 401(K) 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