Retirement plan

GENESIS BANCORP, INC. PROFIT SHARING PLAN

Name: GENESIS BANCORP, INC. - GENESIS BANCORP, INC. PROFIT SHARING PLAN (2021) Form 5500
Creator: GENESIS BANCORP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, GENESIS BANCORP, INC. PROFIT SHARING PLAN, GENESIS BANCORP, INC.

GENESIS BANCORP, INC.EIN 64-0116675Plan #001PY 2021

202 MAIN STREET - BENOIT, MS 38725662-742-3342genesis.bankLinkedIn1-10 employeesbanking

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$497K

+11.4% from 2020

Total participants

+20.0% from 2020

Average account balance

$99,325

+11.4% from 2020

Annual return

11.40%

+1.55 pp from 2020

Benchmarks

See 33,463 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants<25

Cohort33,463 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$522K

Not enough data

1 years with asset history on file

Average account balance

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

$104K

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.

45.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

Not enough data

0 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

Not enough data

0 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+9.27%

Not enough data

1 years with return on file

Admin fee / account holder

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

$409

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 codes2E2F2G2T

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.

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

$2K

$383 / participant

Other / not subdivided$2K100.0%

% of EOY assets

0.385%

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

$99,325

$209,888-52.7%

$189,545-47.6%

$167,553-40.7%

Participation rate

80.0%

88.7%-8.7pp

87.8%-7.8pp

82.1%-2.1pp

Annual return

11.40%

748.66%-737.3pp

555.36%-544.0pp

478.89%-467.5pp

Employer contribution / active EE

$6,915-100.0%

$6,162-100.0%

$4,840-100.0%

Participant deferral / active EE

$8,934-100.0%

$8,220-100.0%

$6,343-100.0%

Admin fee / account holder

$383

$14,300-97.3%

$12,049-96.8%

$12,316-96.9%

GENESIS BANCORP, INC. PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

GENESIS BANCORP, INC. 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