Retirement plan

PINNACLE BANK PROFIT SHARING RETIREMENT PLAN

Name: PINNACLE BANK - PINNACLE BANK PROFIT SHARING RETIREMENT PLAN (2024) 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 2024

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

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$7.5M

+21.6% from 2023

Total participants

+6.2% from 2023

Average account balance

$128,725

+21.6% from 2023

Annual return

19.94%

-2.65 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

$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

$203K

$3985 / participant

Other / not subdivided$203K100.0%

% of EOY assets

2.722%

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

$128,725

$138,386-7.0%

$184,260-30.1%

$80,935+59.0%

Participation rate

78.4%

83.9%-5.5pp

86.8%-8.4pp

67.7%+10.8pp

Annual return

19.94%

20.02%-0.1pp

28.84%-8.9pp

35.66%-15.7pp

Employer contribution / active EE

$2,192

$4,851-54.8%

$6,427-65.9%

$2,757-20.5%

Participant deferral / active EE

$3,794

$7,076-46.4%

$9,133-58.5%

$4,299-11.8%

Admin fee / account holder

$3,504

$10,489-66.6%

$13,898-74.8%

$6,924-49.4%

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