Retirement plan

BANK OF ALAPAHA 401(K) PLAN

Name: BANK OF ALAPAHA - BANK OF ALAPAHA 401(K) PLAN (2023) 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 2023

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)

$2.3M

+20.7% from 2022

Total participants

+11.9% from 2022

Average account balance

$49,885

-7.5% from 2022

Annual return

15.31%

+31.28 pp from 2022

Benchmarks

See 7,176 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,176 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$2.65M

Not enough data

1 years with asset history on file

Average account balance

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

$55K

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.

109.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$275K

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

+11.78%

Not enough data

1 years with return on file

Admin fee / account holder

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

$12159

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

$167K

$4081 / participant

Other / not subdivided$167K100.0%

% of EOY assets

7.136%

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

$49,885

$125,797-60.3%

$170,028-70.7%

$75,181-33.6%

Participation rate

100.0%

83.6%+16.4pp

87.0%+13.0pp

67.2%+32.8pp

Annual return

15.31%

27.20%-11.9pp

53.39%-38.1pp

160.69%-145.4pp

Employer contribution / active EE

$5,355

$4,616+16.0%

$6,788-21.1%

$2,671+100.5%

Participant deferral / active EE

$955

$6,838-86.0%

$10,409-90.8%

$4,126-76.8%

Admin fee / account holder

$3,560

$8,177-56.5%

$12,820-72.2%

$5,650-37.0%

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