Retirement plan

SOUTHERN HERITAGE BANK 401(K) RETIREMENT PLAN

Name: SOUTHERN HERITAGE BANK - SOUTHERN HERITAGE BANK 401(K) RETIREMENT PLAN (2016) Form 5500
Creator: SOUTHERN HERITAGE BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, SOUTHERN HERITAGE BANK 401(K) RETIREMENT PLAN, SOUTHERN HERITAGE BANK

SOUTHERN HERITAGE BANKEIN 72-0711760Plan #001PY 2016

1201 FOURTH STREET - JONESVILLE, LA 71343318-339-8505shbnet.comLinkedIn51-200 employeesbanking

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$5.9M

+9.7% from 2015

Total participants

103

-1.9% from 2015

Average account balance

$69,828

+9.7% from 2015

Annual return

5.86%

+5.90 pp from 2015

Benchmarks

See 7,671 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,671 peers

Snapshot2016

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.22M

Not enough data

1 years with asset history on file

Average account balance

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

$127K

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.

110.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$475K

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

+8.94%

Not enough data

1 years with return on file

Admin fee / account holder

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

$6486

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 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

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

$155K

$1806 / participant

Other / not subdivided$155K100.0%

% of EOY assets

2.617%

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

$69,828

$87,834-20.5%

$133,975-47.9%

$62,881+11.0%

Participation rate

79.1%

83.4%-4.3pp

87.1%-8.0pp

69.3%+9.8pp

Annual return

5.86%

12.05%-6.2pp

29.29%-23.4pp

20.14%-14.3pp

Employer contribution / active EE

$1,532

$3,482-56.0%

$5,211-70.6%

$2,281-32.8%

Participant deferral / active EE

$2,588

$4,812-46.2%

$6,282-58.8%

$3,203-19.2%

Admin fee / account holder

$1,827

$5,372-66.0%

$9,324-80.4%

$4,296-57.5%

SOUTHERN HERITAGE BANK 401(K) RETIREMENT PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

SOUTHERN HERITAGE BANK 401(K) 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