Retirement plan

UBT BANCSHARES, INC. PROFIT SHARING/401(K) PLAN AND TRUST

Name: UBT BANKSHARES, INC. - UBT BANCSHARES, INC. PROFIT SHARING/401(K) PLAN AND TRUST (2023) Form 5500
Creator: UBT BANKSHARES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, UBT BANCSHARES, INC. PROFIT SHARING/401(K) PLAN AND TRUST, UBT BANKSHARES, INC.

UBT BANKSHARES, INC.EIN 73-1684072Plan #002PY 2023

823 BROADWAY - MARYSVILLE, KS 66508785-537-0366

Other plans on this EIN

1 filing

#001Retirement-$13.4M assets

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$11M

+11.4% from 2022

Total participants

128

+5.8% from 2022

Average account balance

$89,987

+6.8% from 2022

Annual return

14.20%

+30.34 pp from 2022

Benchmarks

See 583 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants25-99

Cohort583 peers

Snapshot2023

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

Analytics

Total assets (EOY)

Plan-year ending balance

$11.42M

Not enough data

1 years with asset history on file

Average account balance

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

$95K

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.

120

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.

94.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$822K

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

+10.60%

Not enough data

1 years with return on file

Admin fee / account holder

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

$390

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
RAYMOND JAMES FINANCIAL SERVICES1 year Filed as: RAYMOND JAMES FIN SERV ADVISORS Service code 15 880 CARILLON PARKWAY · SAINT PETERSBURG, FL 33716	Recordkeeping	$42,620
NATIONWIDE9+ years Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215	Recordkeeping	$12,294
KEATING & ASSOCIATES, INC.6 years Filed as: KEATING AND ASSOCIATES, INC. Service code 15 1011 POYNTZ AVE · MANHATTAN, KS 66503	Recordkeeping	$5,997

Plan features & details

Pension benefit codes2E2F2J2K2T3D

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).
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.
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

$56K

$576 / participant

Recordkeeping$12K22.0%
Investment mgmt$43K76.5%
Contract admin$8391.5%

% of EOY assets

0.509%

all-in expense ratio

Categories reported

3 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm: FORVIS MAZARS, LLP
Auditor EIN: 440160260
Audit fees: (not subdivided)
Opinion code: Unqualified

Metric

This plan

Peer set

Industry

Size

Avg account balance

$89,987

$90,745-0.8%

$130,270-30.9%

$75,177+19.7%

Participation rate

93.8%

71.1%+22.8pp

76.3%+17.5pp

67.2%+26.6pp

Annual return

14.20%

34.45%-20.3pp

38.89%-24.7pp

160.75%-146.5pp

Employer contribution / active EE

$1,708

$3,314-48.4%

$4,128-58.6%

$2,671-36.0%

Participant deferral / active EE

$5,241

$5,362-2.3%

$6,797-22.9%

$4,126+27.0%

Admin fee / account holder

$458

$6,331-92.8%

$6,022-92.4%

$5,651-91.9%

Provider

Service type

Compensation

RAYMOND JAMES FINANCIAL SERVICES1 year

Filed as: RAYMOND JAMES FIN SERV ADVISORS

Service code 15

880 CARILLON PARKWAY · SAINT PETERSBURG, FL 33716

Recordkeeping

$42,620

NATIONWIDE9+ years

Service code 15

ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215

Recordkeeping

$12,294

KEATING & ASSOCIATES, INC.6 years

Filed as: KEATING AND ASSOCIATES, INC.

Service code 15

1011 POYNTZ AVE · MANHATTAN, KS 66503

Recordkeeping

$5,997

UBT BANCSHARES, INC. PROFIT SHARING/401(K) PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

UBT BANCSHARES, INC. PROFIT SHARING/401(K) PLAN AND TRUST

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