Retirement plan

BWB OF WEST VIRGINIA, INC. 401(K) PROFIT SHARING PLAN

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

BWB OF WEST VIRGINIA, INC.EIN 55-0749471Plan #001PY 2022

P O BOX 184 - MATEWAN, WV 25678304-426-4304

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$735K

-24.6% from 2021

Total participants

-10.0% from 2021

Average account balance

$81,656

-16.2% from 2021

Annual return

-24.31%

-41.81 pp from 2021

Benchmarks

See 23,464 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,464 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$1.52M

Not enough data

1 years with asset history on file

Average account balance

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

$169K

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.

112.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$44K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+22.48%

Not enough data

1 years with return on file

Admin fee / account holder

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

$136

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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$42K

$5988 / participant

Other / not subdivided$42K100.0%

% of EOY assets

5.704%

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

$81,656

$142,392-42.7%

$119,622-31.7%

$134,532-39.3%

Participation rate

100.0%

82.8%+17.2pp

79.3%+20.7pp

81.2%+18.8pp

Annual return

-24.31%

-12.46%-11.9pp

-14.98%-9.3pp

418.27%-442.6pp

Employer contribution / active EE

$1,447

$5,224-72.3%

$4,232-65.8%

$4,741-69.5%

Participant deferral / active EE

$4,183

$6,467-35.3%

$5,601-25.3%

$6,401-34.6%

Admin fee / account holder

$4,658

$13,593-65.7%

$10,328-54.9%

$11,429-59.2%

BWB OF WEST VIRGINIA, INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BWB OF WEST VIRGINIA, INC. 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