Retirement plan

EVOLVE FINANCIAL GROUP EMPLOYEE SAVINGS PLAN

Name: EVOLVE BANCORP, INC. - EVOLVE FINANCIAL GROUP EMPLOYEE SAVINGS PLAN (2017) Form 5500
Creator: EVOLVE BANCORP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, EVOLVE FINANCIAL GROUP EMPLOYEE SAVINGS PLAN, EVOLVE BANCORP, INC.

EVOLVE BANCORP, INC.EIN 71-0646078Plan #002PY 2017

6070 POPLAR AVENUE, SUITE 200 - MEMPHIS, TN 38119901-624-5500

Prospect flagsLow participationLow assets / participantLow employer contribution

How to read this page

Total assets (EOY)

$6.4M

+34.2% from 2016

Total participants

356

-15.2% from 2016

Average account balance

$30,698

+25.2% from 2016

Annual return

19.32%

-3.29 pp from 2016

Benchmarks

See 1,453 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,453 peers

Snapshot2017

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

Analytics

Total assets (EOY)

Plan-year ending balance

$21.46M

Not enough data

1 years with asset history on file

Average account balance

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

$56K

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.

380

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.

68.6%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$2.58M

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

+16.74%

Not enough data

1 years with return on file

Admin fee / account holder

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

$381

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

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Service providers

Top 5 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290	Contract Administrator	$24,455
BURLEIGH CONSULTING GROUP2+ years Filed as: BURLEIGH CONSULTING GROUP, INC. Service code 13 · EIN 62-0842964	Contract Administrator	$10,775
DUNCAN WILLIAMS ASSET MANAGEMENT1 year Service code 27 · EIN 47-3030907	Advisory (Plan)	$9,677
BURLEIGH CONSULTING GROUP1 year Filed as: BURLEIGH CONSULTING GROUP INC Service code 13	Contract Administrator	$1,595
WILSHIRE ASSOCIATES INCORPORATED2+ years Service code 27 · EIN 95-2755361	Advisory (Plan)	$0

Plan features & details

Pension benefit codes2A2E2F2G2J2K3D3H

Plan features

2A
Age/service weighted or new comparability plan
Age/service weighted plan where allocations are based on age service or age and service; or new comparability or similar plan where allocations are based on participant classifications consisting entirely or predominantly of highly compensated employees or the plan provides an additional allocation rate on compensation above a specified threshold that exceeds the permitted disparity limits of Code section 401(l).
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.
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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityLow employer contribution
Employer contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.

Expense breakdown

Schedule H Part II

Admin total

$45K

$141 / participant

Investment mgmt$10K21.5%
Contract admin$35K78.5%

% of EOY assets

0.700%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

Auditor firm: HENDERSON HUTCHERSON AND MCCULLOUGH
Auditor EIN: 621114363
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$30,698

$81,537-62.4%

$149,721-79.5%

$69,631-55.9%

Participation rate

53.8%

86.1%-32.4pp

87.1%-33.3pp

70.7%-16.9pp

Annual return

19.32%

22.79%-3.5pp

1501.67%-1482.4pp

27571.02%-27551.7pp

Employer contribution / active EE

$868

$3,239-73.2%

$5,444-84.1%

$2,032-57.3%

Participant deferral / active EE

$3,205

$4,994-35.8%

$6,568-51.2%

$3,224-0.6%

Admin fee / account holder

$215

$107+101.1%

$11,282-98.1%

$110+94.6%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY2+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$24,455

BURLEIGH CONSULTING GROUP2+ years

Filed as: BURLEIGH CONSULTING GROUP, INC.

Service code 13 · EIN 62-0842964

Contract Administrator

$10,775

DUNCAN WILLIAMS ASSET MANAGEMENT1 year

Service code 27 · EIN 47-3030907

Advisory (Plan)

$9,677

BURLEIGH CONSULTING GROUP1 year

Filed as: BURLEIGH CONSULTING GROUP INC

Service code 13

Contract Administrator

$1,595

WILSHIRE ASSOCIATES INCORPORATED2+ years

Service code 27 · EIN 95-2755361

Advisory (Plan)

EVOLVE FINANCIAL GROUP EMPLOYEE SAVINGS PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EVOLVE FINANCIAL GROUP EMPLOYEE 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