Retirement plan

BANK OF MADISON PROFIT SHARING PLAN

Name: BANK OF MADISON PROFIT SHARING PLAN - BANK OF MADISON PROFIT SHARING PLAN (2016) Form 5500
Creator: BANK OF MADISON PROFIT SHARING PLAN
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BANK OF MADISON PROFIT SHARING PLAN, BANK OF MADISON PROFIT SHARING PLAN

BANK OF MADISON PROFIT SHARING PLANEIN 58-0152950Plan #001PY 2016

PO BOX 271 - MADISON, GA 30650706-342-1953bankofmadisonga.comLinkedIn51-200 employeesbanking

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$4.3M

+10.2% from 2015

Total participants

+7.5% from 2015

Average account balance

$84,391

+8.1% from 2015

Annual return

4.95%

+5.95 pp from 2015

Benchmarks

See 7,671 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,671 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$6.63M

Not enough data

1 years with asset history on file

Average account balance

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

$85K

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.

113.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$487K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$7K

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

+8.23%

Not enough data

1 years with return on file

Admin fee / account holder

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

$9243

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 codes2E2F2G2T3D

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.
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

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

$100K

$1814 / participant

Other / not subdivided$100K100.0%

% of EOY assets

2.318%

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

$84,391

$87,834-3.9%

$133,975-37.0%

$62,881+34.2%

Participation rate

89.1%

83.4%+5.7pp

87.1%+2.0pp

69.3%+19.8pp

Annual return

4.95%

12.05%-7.1pp

29.29%-24.3pp

20.14%-15.2pp

Employer contribution / active EE

$5,138

$3,482+47.5%

$5,211-1.4%

$2,281+125.2%

Participant deferral / active EE

$4,812-100.0%

$6,282-100.0%

$3,203-100.0%

Admin fee / account holder

$1,956

$5,372-63.6%

$9,324-79.0%

$4,296-54.5%

BANK OF MADISON PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

BANK OF MADISON 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