Retirement plan

VBA DEFINED CONTRIBUTION PLAN FOR BAY BANKS OF VIRGINIA, INC.

Name: BAY BANKS OF VIRGINIA, INC. - VBA DEFINED CONTRIBUTION PLAN FOR BAY BANKS OF VIRGINIA, INC. (2015) Form 5500
Creator: BAY BANKS OF VIRGINIA, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VBA DEFINED CONTRIBUTION PLAN FOR BAY BANKS OF VIRGINIA, INC., BAY BANKS OF VIRGINIA, INC.

BAY BANKS OF VIRGINIA, INC.EIN 54-1838100Plan #003PY 2015

P.O. BOX 1869 - KILMARNOCK, VA 22482804-435-1171LinkedIn51-200 employeesbanking

Other plans on this EIN

2 filings

#001Retirement-$2.8M assets #002Retirement-$756K assets

Prospect flagsNo flags tripped

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)

$5.1M

No prior year

Total participants

139

No prior year

Average account balance

$46,507

No prior year

Annual return

1.90%

No prior year

Benchmarks

See 2,156 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,156 peers

Snapshot2015

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

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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

$339K

Not enough data

1 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

+5.16%

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

See the 7-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.

Start for $4.99 See plans

Service providers

Top 1 by compensation

Provider	Service type	Compensation
RELIANCE TRUST COMPANY1+ years Service code 19 · EIN 58-1428634	Securities Custodian	$8,628

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$12K

$94 / participant

Investment mgmt$9K72.0%
Other / not subdivided$3K28.0%

% of EOY assets

0.234%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.

Auditor firm: DIXON HUGHES GOODMAN LLP
Auditor EIN: 560747981
Audit fees: (not subdivided)
Opinion code: Disclaimer

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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$46,507

$70,667-34.2%

$123,104-62.2%

$52,331-11.1%

Participation rate

77.3%

83.7%-6.4pp

86.8%-9.4pp

68.1%+9.2pp

Annual return

1.90%

6.23%-4.3pp

13.22%-11.3pp

4.54%-2.6pp

Employer contribution / active EE

$1,375

$2,946-53.3%

$5,151-73.3%

$1,882-26.9%

Participant deferral / active EE

$2,695

$4,493-40.0%

$6,230-56.7%

$3,022-10.8%

Admin fee / account holder

$109

$506-78.5%

$9,015-98.8%

$592-81.6%

Provider

Service type

Compensation

RELIANCE TRUST COMPANY1+ years

Service code 19 · EIN 58-1428634

Securities Custodian

$8,628

VBA DEFINED CONTRIBUTION PLAN FOR BAY BANKS OF VIRGINIA, INC.

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

VBA DEFINED CONTRIBUTION PLAN FOR BAY BANKS OF VIRGINIA, INC.

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