Retirement plan

THE CONWAY NATIONAL BANK PROFIT-SHARING AND SAVINGS PLAN

Name: THE CONWAY NATIONAL BANK - THE CONWAY NATIONAL BANK PROFIT-SHARING AND SAVINGS PLAN (2019) Form 5500
Creator: THE CONWAY NATIONAL BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE CONWAY NATIONAL BANK PROFIT-SHARING AND SAVINGS PLAN, THE CONWAY NATIONAL BANK

THE CONWAY NATIONAL BANKEIN 57-0146256Plan #002PY 2019

1400 THIRD AVENUE - CONWAY, SC 29526843-488-8224conwaynationalbank.comLinkedIn201-500 employeesbanking

Prospect flagsLow returnsHigh feesHigh cash

Top hat statement on fileNQDC

Filed August 29, 2006

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

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Total assets (EOY)

$45.9M

+14.5% from 2018

Total participants

313

+3.6% from 2018

Average account balance

$148,041

+10.1% from 2018

Annual return

16.75%

+18.67 pp from 2018

Benchmarks

See 2,202 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,202 peers

Snapshot2019

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Analytics

Total assets (EOY)

Plan-year ending balance

$53.42M

Not enough data

1 years with asset history on file

Average account balance

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

$180K

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.

297

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.

97.8%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.09M

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

+11.02%

Not enough data

1 years with return on file

Admin fee / account holder

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

$375

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

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Service providers

Top 4 by compensation

Provider	Service type	Compensation
CAPFINANCIAL PARTNERS LLC5+ years Filed as: CAPTRUST FINANCIAL ADVISORS Service code 27 4201 CONGRESS STREET SUITE 160 · CHARLOTTE, NC 28209	Advisory (Plan)	$63,148
MCCREADY & KEENE INC.5+ years Service code 15 · EIN 35-0500670	Recordkeeping	$19,380
MATRIX TRUST COMPANY2 years Service code 18 · EIN 75-3182674	Custodial (other than securities); Tr...	$19,122
MATRIX TRUST COMPANY2 years Filed as: MATRIX TRUST CO. Service code 49	Other Services	$1,672

Plan features & details

Pension benefit codes2E2F2G2J2K2S2T3D

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.
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.
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.

Opportunity flags

3 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.
OpportunityHigh cash
More than 10% of assets are held in cash - possible menu-design or default-fund problem.

Expense breakdown

Schedule H Part II

Admin total

$102K

$438 / participant

Investment mgmt$63K62.1%
Contract admin$19K19.1%
Other / not subdivided$19K18.8%

% of EOY assets

0.221%

all-in expense ratio

Categories reported

2 / 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: ELLIOTT DAVIS
Auditor EIN: 570381582
Audit fees: (not subdivided)
Opinion code: Disclaimer

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$148,041

$98,982+49.6%

$162,163-8.7%

$65,185+127.1%

Participation rate

98.7%

85.8%+12.9pp

87.6%+11.2pp

70.2%+28.5pp

Annual return

16.75%

24.84%-8.1pp

115.59%-98.8pp

29.38%-12.6pp

Employer contribution / active EE

$1,939

$3,467-44.1%

$5,614-65.5%

$2,177-10.9%

Participant deferral / active EE

$4,495

$5,384-16.5%

$7,298-38.4%

$3,514+27.9%

Admin fee / account holder

$328

$596-45.0%

$10,843-97.0%

$847-61.3%

Provider

Service type

Compensation

CAPFINANCIAL PARTNERS LLC5+ years

Filed as: CAPTRUST FINANCIAL ADVISORS

Service code 27

4201 CONGRESS STREET SUITE 160 · CHARLOTTE, NC 28209

Advisory (Plan)

$63,148

MCCREADY & KEENE INC.5+ years

Service code 15 · EIN 35-0500670

Recordkeeping

$19,380

MATRIX TRUST COMPANY2 years

Service code 18 · EIN 75-3182674

Custodial (other than securities); Tr...

$19,122

MATRIX TRUST COMPANY2 years

Filed as: MATRIX TRUST CO.

Service code 49

Other Services

$1,672

THE CONWAY NATIONAL BANK PROFIT-SHARING AND SAVINGS PLAN

Top hat statement on fileNQDC

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE CONWAY NATIONAL BANK PROFIT-SHARING AND SAVINGS PLAN

Top hat statement on fileNQDC

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