Retirement plan

PINNACLE BANK PROFIT SHARING RETIREMENT PLAN

Name: PINNACLE BANK - PINNACLE BANK PROFIT SHARING RETIREMENT PLAN (2023) Form 5500
Creator: PINNACLE BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, PINNACLE BANK PROFIT SHARING RETIREMENT PLAN, PINNACLE BANK

PINNACLE BANKEIN 63-0110181Plan #002PY 2023

1811 2ND AVENUE - JASPER, AL 35501205-221-8866

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$6.1M

+21.3% from 2022

Total participants

-1.5% from 2022

Average account balance

$105,856

+12.9% from 2022

Annual return

22.59%

+43.47 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

$8.61M

Not enough data

1 years with asset history on file

Average account balance

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

$159K

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.

74.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$311K

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

+16.18%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6902

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 codes2E2F2J2R2T3D

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).
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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

1 tripped

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

$366K

$7459 / participant

Other / not subdivided$366K100.0%

% of EOY assets

5.953%

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

$105,856

$125,797-15.9%

$170,057-37.8%

$75,177+40.8%

Participation rate

85.7%

83.6%+2.1pp

87.0%-1.3pp

67.2%+18.5pp

Annual return

22.59%

27.20%-4.6pp

53.42%-30.8pp

160.75%-138.2pp

Employer contribution / active EE

$2,215

$4,616-52.0%

$6,790-67.4%

$2,671-17.1%

Participant deferral / active EE

$3,928

$6,838-42.6%

$10,411-62.3%

$4,126-4.8%

Admin fee / account holder

$6,302

$8,177-22.9%

$12,826-50.9%

$5,651+11.5%

PINNACLE BANK PROFIT SHARING RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

PINNACLE BANK PROFIT SHARING RETIREMENT 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