Retirement plan

BAY BANKS OF VIRGINIA, INC. EMPLOYEE STOCK OWNERSHIP PLAN

Name: BAY BANKS OF VIRGINIA, INC. - BAY BANKS OF VIRGINIA, INC. EMPLOYEE STOCK OWNERSHIP PLAN (2021) Form 5500
Creator: BAY BANKS OF VIRGINIA, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BAY BANKS OF VIRGINIA, INC. EMPLOYEE STOCK OWNERSHIP PLAN, BAY BANKS OF VIRGINIA, INC.

BAY BANKS OF VIRGINIA, INC.EIN 54-1838100Plan #002PY 2021

P.O. BOX 17310 - RICHMOND, VA 23226804-518-2605LinkedIn51-200 employeesbanking

Other plans on this EIN

4 filings

#004Retirement-$20.4M assets #005Retirement-$2.6M assets #001Retirement-$1.2M assets #003Retirement--

Prospect flagsLow returns

Top hat statement on fileNQDC

Filed July 31, 2020

Plan administrator

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1801 Bayberry Court

Richmond, VA 23226

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Plans declared (1)

Plan name not on file5 emp

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Total assets (EOY)

$5.4M

-0.5% from 2020

Total participants

167

+7.1% from 2020

Average account balance

$32,430

-7.0% from 2020

Annual return

-8.55%

-2.20 pp from 2020

Benchmarks

See 519 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants25-99

Cohort519 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

Not enough data

1 years with asset history on file

Average account balance

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

Not enough data

0 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

0 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

Not enough data

0 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

-28.07%

Not enough data

1 years with return on file

Admin fee / account holder

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

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

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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 codes2P2K2I

Plan features

2I
Stock bonus
Stock bonus plan.
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.

Opportunity flags

1 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: ELLIOTT DAVIS LLC
Auditor EIN: 570381582
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$32,430

$102,065-68.2%

$453,569-92.9%

$85,847-62.2%

Participation rate

100.0%

72.4%+27.6pp

78.0%+22.0pp

69.3%+30.7pp

Annual return

-8.55%

25.44%-34.0pp

64.43%-73.0pp

318.61%-327.2pp

Employer contribution / active EE

$7,674

$2,852+169.1%

$4,072+88.5%

$2,565+199.2%

Participant deferral / active EE

$4,789-100.0%

$6,211-100.0%

$3,952-100.0%

Admin fee / account holder

$5,717-100.0%

$11,214-100.0%

$6,261-100.0%

BAY BANKS OF VIRGINIA, INC. EMPLOYEE STOCK OWNERSHIP PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

BAY BANKS OF VIRGINIA, INC. EMPLOYEE STOCK OWNERSHIP PLAN

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion