Retirement plan

BANK OF ALAPAHA 401(K) PLAN

Name: BANK OF ALAPAHA - BANK OF ALAPAHA 401(K) PLAN (2024) Form 5500
Creator: BANK OF ALAPAHA
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BANK OF ALAPAHA 401(K) PLAN, BANK OF ALAPAHA

BANK OF ALAPAHAEIN 58-0152610Plan #001PY 2024

502 N DAVIS ST - NASHVILLE, GA 31639229-532-6115bankofalapaha.comLinkedIn11-50 employeesbanking

Prospect flagsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$2.6M

+12.2% from 2023

Total participants

-10.6% from 2023

Average account balance

$69,221

+38.8% from 2023

Annual return

13.08%

-2.23 pp from 2023

Benchmarks

See 7,155 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,155 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.63M

Not enough data

1 years with asset history on file

Average account balance

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

$69K

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.

92.7%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$252K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$6K

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

+13.08%

Not enough data

1 years with return on file

Admin fee / account holder

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

$7654

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 codes2E2F2G2J2T3D

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.

Opportunity flags

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
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

$291K

$7094 / participant

Other / not subdivided$291K100.0%

% of EOY assets

11.057%

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

$69,221

$138,393-50.0%

$184,256-62.4%

$80,959-14.5%

Participation rate

90.2%

83.9%+6.3pp

86.8%+3.4pp

67.7%+22.6pp

Annual return

13.08%

20.01%-6.9pp

28.85%-15.8pp

35.67%-22.6pp

Employer contribution / active EE

$5,104

$4,847+5.3%

$6,427-20.6%

$2,757+85.1%

Participant deferral / active EE

$1,052

$7,076-85.1%

$9,133-88.5%

$4,300-75.5%

Admin fee / account holder

$7,654

$10,489-27.0%

$13,899-44.9%

$6,925+10.5%

BANK OF ALAPAHA 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BANK OF ALAPAHA 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