Retirement plan

PLANTERS BANK EMPLOYEE STOCK OWNERSHIP AND 401(K) RETIREMENT SAVINGS PLAN

Name: PLANTERS BANK - PLANTERS BANK EMPLOYEE STOCK OWNERSHIP AND 401(K) RETIREMENT SAVINGS PLAN (2024) Form 5500
Creator: PLANTERS BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PLANTERS BANK EMPLOYEE STOCK OWNERSHIP AND 401(K) RETIREMENT SAVINGS PLAN, PLANTERS BANK

PLANTERS BANKEIN 61-1293646Plan #002PY 2024

P.O. BOX 1570 - HOPKINSVILLE, KY 422411570270-881-1731plantersbankonline.comLinkedIn51-200 employeesbanking

Prospect flagsLow returns

How to read this page

Total assets (EOY)

$28M

+8.7% from 2023

Total participants

180

-1.1% from 2023

Average account balance

$159,809

+10.5% from 2023

Annual return

10.79%

+6.88 pp from 2023

Benchmarks

See 2,180 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,180 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$27.97M

Not enough data

1 years with asset history on file

Average account balance

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

$160K

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.

175

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.

96.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.76M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$11K

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

+10.79%

Not enough data

1 years with return on file

Admin fee / account holder

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

$135

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

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

Service providers

Top 2 by compensation

Provider	Service type	Compensation
LINCOLN NATIONAL CORPORATION7 years Service code 13 · EIN 35-1140070	Contract Administrator	$21,067
TPA CORPORATION6 years Filed as: TPA AT TIME OF FEE WITHDRAWAL Service code 15	Recordkeeping	$2,625

Plan features & details

Pension benefit codes2E2F2H2J2K2O

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).
2H
Partial participant-directed account plan
Participants have the opportunity to direct the investment of a portion 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.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.

Opportunity flags

1 tripped

OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$24K

$145 / participant

Investment mgmt$24K100.0%

% of EOY assets

0.085%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: ELLIOTT DAVIS
Auditor EIN: 570381583
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$159,809

$122,239+30.7%

$184,200-13.2%

$74,546+114.4%

Participation rate

96.9%

85.5%+11.5pp

86.8%+10.1pp

67.2%+29.7pp

Annual return

10.79%

19.95%-9.2pp

28.80%-18.0pp

1366.03%-1355.2pp

Employer contribution / active EE

$5,186

$4,537+14.3%

$6,424-19.3%

$2,624+97.6%

Participant deferral / active EE

$5,587

$7,139-21.7%

$9,132-38.8%

$4,347+28.5%

Admin fee / account holder

$135

$1,260-89.3%

$13,907-99.0%

$1,944-93.0%

Provider

Service type

Compensation

LINCOLN NATIONAL CORPORATION7 years

Service code 13 · EIN 35-1140070

Contract Administrator

$21,067

TPA CORPORATION6 years

Filed as: TPA AT TIME OF FEE WITHDRAWAL

Service code 15

Recordkeeping

$2,625

PLANTERS BANK EMPLOYEE STOCK OWNERSHIP AND 401(K) RETIREMENT SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PLANTERS BANK EMPLOYEE STOCK OWNERSHIP AND 401(K) RETIREMENT SAVINGS 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