Retirement plan

FARMERS & MERCHANTS BANK OF NORTH DAKOTA SAFE HARBOR 401(K) PLAN

Name: FARMERS & MERCHANTS BANK OF NORTH DAKOTA - FARMERS & MERCHANTS BANK OF NORTH DAKOTA SAFE HARBOR 401(K) PLAN (2018) Form 5500
Creator: FARMERS & MERCHANTS BANK OF NORTH DAKOTA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, FARMERS & MERCHANTS BANK OF NORTH DAKOTA SAFE HARBOR 401(K) PLAN, FARMERS & MERCHANTS BANK OF NORTH DAKOTA

FARMERS & MERCHANTS BANK OF NORTH DAKOTAEIN 45-0131570Plan #002PY 2018

P.O. BOX 405 - TOLNA, ND 58380701-262-4211fmbnd.comLinkedIn11-50 employeesbanking

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$4.5M

-1.9% from 2017

Total participants

0.0% from 2017

Average account balance

$168,509

-9.1% from 2017

Annual return

-4.26%

-19.14 pp from 2017

Benchmarks

See 31,466 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort31,466 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.44M

Not enough data

1 years with asset history on file

Average account balance

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

$230K

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.

116.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$209K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+10.73%

Not enough data

1 years with return on file

Admin fee / account holder

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

$5361

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 codes2E2F2G2J2T3D3H

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.
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.
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

$85K

$3522 / participant

Other / not subdivided$85K100.0%

% of EOY assets

1.858%

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

$168,509

$160,059+5.3%

$140,019+20.3%

$135,380+24.5%

Participation rate

91.7%

88.5%+3.1pp

87.5%+4.2pp

82.6%+9.0pp

Annual return

-4.26%

911.48%-915.7pp

651.17%-655.4pp

519.81%-524.1pp

Employer contribution / active EE

$2,344

$6,420-63.5%

$5,605-58.2%

$4,779-50.9%

Participant deferral / active EE

$5,790

$7,641-24.2%

$6,927-16.4%

$5,609+3.2%

Admin fee / account holder

$3,131

$13,328-76.5%

$10,705-70.8%

$10,828-71.1%

FARMERS & MERCHANTS BANK OF NORTH DAKOTA SAFE HARBOR 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

FARMERS & MERCHANTS BANK OF NORTH DAKOTA SAFE HARBOR 401(K) 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