Retirement plan

GNB BANCORPORATION EMPLOYEE STOCK OWNERSHIP PLAN WITH 401(K) PROVISIONS

Name: GNB BANCORPORATION - GNB BANCORPORATION EMPLOYEE STOCK OWNERSHIP PLAN WITH 401(K) PROVISIONS (2021) Form 5500
Creator: GNB BANCORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GNB BANCORPORATION EMPLOYEE STOCK OWNERSHIP PLAN WITH 401(K) PROVISIONS, GNB BANCORPORATION

GNB BANCORPORATIONEIN 42-1154912Plan #003PY 2021

510 F AVENUE - GRUNDY CENTER, IA 506381650319-824-5431LinkedIn51-200 employeesbanking

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$38.9M

+11.7% from 2020

Total participants

178

+4.7% from 2020

Average account balance

$224,590

+6.6% from 2020

Annual return

12.50%

+12.20 pp from 2020

Benchmarks

See 265 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants100-249

Cohort265 peers

Snapshot2021

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$38.10M

Not enough data

1 years with asset history on file

Average account balance

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

$227K

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.

168

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.

95.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.35M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+6.46%

Not enough data

1 years with return on file

Admin fee / account holder

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

$151

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

1 years with F_SCH_H allocation on file

See the 10-year trajectory. $4.99 for your first month.

Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.

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Service providers

Top 3 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY7+ years Service code 13 · EIN 42-0127290	Contract Administrator	$55,023
MASSACHUSETTS MUTUAL LIFE INS. CO.6 years Filed as: MML INVESTORS SERVICES LLC Service code 49 · EIN 04-2746212	Other Services	$12,342
MASSACHUSETTS MUTUAL LIFE INS. CO.5 years Filed as: MML INSURANCE AGENCY LLC Service code 49 · EIN 04-3109325	Other Services	$4,259

Plan features & details

Pension benefit codes2E2F2H2J2K2P2Q2S2T3H

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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.
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

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

$64K

$514 / participant

Contract admin$64K100.0%

% of EOY assets

0.164%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: EIDE BAILLY LLP
Auditor EIN: 450250958
Audit fees: (not subdivided)
Opinion code: Unqualified

Look up a plan sponsor by EIN. Free Form 5500 search. No signup.

Metric

This plan

Peer set

Industry

Size

Avg account balance

$224,590

$82,130+173.5%

$453,369-50.5%

$79,386+182.9%

Participation rate

96.0%

73.4%+22.6pp

78.0%+18.0pp

70.7%+25.3pp

Annual return

12.50%

345.31%-332.8pp

64.40%-51.9pp

116.85%-104.4pp

Employer contribution / active EE

$3,116

$2,659+17.2%

$4,070-23.4%

$2,427+28.4%

Participant deferral / active EE

$6,877

$4,314+59.4%

$6,209+10.8%

$4,046+70.0%

Admin fee / account holder

$369

$531-30.5%

$11,209-96.7%

$626-41.1%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY7+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$55,023

MASSACHUSETTS MUTUAL LIFE INS. CO.6 years

Filed as: MML INVESTORS SERVICES LLC

Service code 49 · EIN 04-2746212

Other Services

$12,342

MASSACHUSETTS MUTUAL LIFE INS. CO.5 years

Filed as: MML INSURANCE AGENCY LLC

Service code 49 · EIN 04-3109325

Other Services

$4,259

GNB BANCORPORATION EMPLOYEE STOCK OWNERSHIP PLAN WITH 401(K) PROVISIONS

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GNB BANCORPORATION EMPLOYEE STOCK OWNERSHIP PLAN WITH 401(K) PROVISIONS

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