Retirement plan

401(K) PLAN FOR EMPLOYEES OF BANK OF MONTGOMERY

Name: BANK OF MONTGOMERY - 401(K) PLAN FOR EMPLOYEES OF BANK OF MONTGOMERY (2018) Form 5500
Creator: BANK OF MONTGOMERY
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, 401(K) PLAN FOR EMPLOYEES OF BANK OF MONTGOMERY, BANK OF MONTGOMERY

BANK OF MONTGOMERYEIN 72-0124970Plan #001PY 2018

PO BOX 128 - MONTGOMERY, LA 714540128318-352-3060bofm.comLinkedIn51-200 employeesbanking

Prospect flagsNo flags tripped

Top hat statement on fileNQDC

Filed November 20, 2019 (most recent of 2 filings on file)

Plan administrator

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860 Washington Street

Natchitoches, LA 71457

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Plans declared (1)

BOM Bank136 emp

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Total assets (EOY)

$4.8M

-1.0% from 2017

Total participants

128

-3.0% from 2017

Average account balance

$41,109

-7.9% from 2017

Annual return

-6.22%

-26.48 pp from 2017

Benchmarks

See 2,193 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,193 peers

Snapshot2018

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

Analytics

Total assets (EOY)

Plan-year ending balance

$13.55M

Not enough data

1 years with asset history on file

Average account balance

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

$69K

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.

196

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.

77.2%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$1.04M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$5K

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

+20.26%

Not enough data

1 years with return on file

Admin fee / account holder

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

$12

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 1 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY1 year Service code 13 · EIN 42-0127290	Contract Administrator	$9,256

Plan features & details

Pension benefit codes2E2F2G2J2T3D

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.
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.
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

0 tripped

No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II

Admin total

$9K

$76 / participant

Contract admin$9K100.0%

% of EOY assets

0.194%

all-in expense ratio

Categories reported

1 / 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: HANNIS T. BOURGEOIS, LLP
Auditor EIN: 720636725
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$41,109

$79,523-48.3%

$140,019-70.6%

$56,289-27.0%

Participation rate

90.1%

85.7%+4.4pp

87.5%+2.6pp

69.9%+20.2pp

Annual return

-6.22%

2.39%-8.6pp

651.17%-657.4pp

-9.96%+3.7pp

Employer contribution / active EE

$2,061

$3,350-38.5%

$5,605-63.2%

$2,111-2.4%

Participant deferral / active EE

$3,116

$5,129-39.2%

$6,927-55.0%

$3,350-7.0%

Admin fee / account holder

$80

$614-87.0%

$10,705-99.3%

$521-84.7%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY1 year

Service code 13 · EIN 42-0127290

Contract Administrator

$9,256

401(K) PLAN FOR EMPLOYEES OF BANK OF MONTGOMERY

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

401(K) PLAN FOR EMPLOYEES OF BANK OF MONTGOMERY

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

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