Retirement plan

F & M BANCSHARES, INC. SAVINGS INCENTIVE PLAN

Name: F & M BANCSHARES, INC. - F & M BANCSHARES, INC. SAVINGS INCENTIVE PLAN (2019) Form 5500
Creator: F & M BANCSHARES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, F & M BANCSHARES, INC. SAVINGS INCENTIVE PLAN, F & M BANCSHARES, INC.

F & M BANCSHARES, INC.EIN 73-0956567Plan #002PY 2019

13900 N. PORTLAND, SUITE 130 - OKLAHOMA CITY, OK 73134405-373-1900LinkedIn51-200 employeesbanking

Prospect flagsLow returnsHigh fees

How to read this page

Total assets (EOY)

$7.7M

+7.4% from 2018

Total participants

150

-6.3% from 2018

Average account balance

$60,718

+14.3% from 2018

Annual return

16.02%

+22.14 pp from 2018

Benchmarks

See 2,202 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants100-249

Cohort2,202 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$12.89M

Not enough data

1 years with asset history on file

Average account balance

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

$119K

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.

108

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.

78.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$804K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+13.81%

Not enough data

1 years with return on file

Admin fee / account holder

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

$846

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

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

Service providers

Top 3 by compensation

Provider	Service type	Compensation
NATIONWIDE5+ years Service code 21 · EIN 31-4156830 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Bank Trustee	$55,859
JP MORGAN INVESTMENT MANAGEMENT INC5+ years Filed as: MEEDER INVESTMENT MANAGEMENT Service code 28 · EIN 31-1332744 6125 MEMORIAL DRIVE · DUBLIN, OH 43017	Investment Management	$19,521
PENSION ASSURANCE LLP5+ years Filed as: PENSION SOLUTIONS, INC Service code 13 · EIN 73-1521434 9116 N. KELLEY AVE. · OKLAHOMA CITY, OK 73131	Contract Administrator	$1,300

Plan features & details

Pension benefit codes2E2F2G2J2K2Q2T3D

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.
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.
2Q
ESOP maintained by an S corporation
The employer maintaining this ESOP is an S corporation.
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

2 tripped

OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$77K

$752 / participant

Investment mgmt$75K98.3%
Contract admin$1K1.7%

% of EOY assets

1.002%

all-in expense ratio

Categories reported

2 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FINLEY & COOK P.L.L.C.
Auditor EIN: 730604334
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$60,718

$98,982-38.7%

$162,185-62.6%

$65,186-6.9%

Participation rate

76.5%

85.8%-9.3pp

87.6%-11.1pp

70.2%+6.3pp

Annual return

16.02%

24.84%-8.8pp

115.61%-99.6pp

29.39%-13.4pp

Employer contribution / active EE

$2,771

$3,467-20.1%

$5,613-50.6%

$2,177+27.3%

Participant deferral / active EE

$3,544

$5,384-34.2%

$7,297-51.4%

$3,514+0.8%

Admin fee / account holder

$609

$596+2.0%

$10,844-94.4%

$847-28.2%

Provider

Service type

Compensation

NATIONWIDE5+ years

Service code 21 · EIN 31-4156830

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Bank Trustee

$55,859

JP MORGAN INVESTMENT MANAGEMENT INC5+ years

Filed as: MEEDER INVESTMENT MANAGEMENT

Service code 28 · EIN 31-1332744

6125 MEMORIAL DRIVE · DUBLIN, OH 43017

Investment Management

$19,521

PENSION ASSURANCE LLP5+ years

Filed as: PENSION SOLUTIONS, INC

Service code 13 · EIN 73-1521434

9116 N. KELLEY AVE. · OKLAHOMA CITY, OK 73131

Contract Administrator

$1,300

F & M BANCSHARES, INC. SAVINGS INCENTIVE PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

F & M BANCSHARES, INC. SAVINGS INCENTIVE 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