Retirement plan

WESTEX BANCORP, INC. PRE-TAX SAVINGS AND PROFIT SHARING PLAN

Name: WESTEX BANCORP, INC. - WESTEX BANCORP, INC. PRE-TAX SAVINGS AND PROFIT SHARING PLAN (2019) Form 5500
Creator: WESTEX BANCORP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, WESTEX BANCORP, INC. PRE-TAX SAVINGS AND PROFIT SHARING PLAN, WESTEX BANCORP, INC.

WESTEX BANCORP, INC.EIN 74-2102966Plan #002PY 2019

PO BOX 4010 - DEL RIO, TX 78841830-774-2555

Prospect flagsNo flags tripped

How to read this page

Total assets (EOY)

$17.8M

+21.4% from 2018

Total participants

136

-1.4% from 2018

Average account balance

$137,720

+23.2% from 2018

Annual return

22.71%

+27.75 pp from 2018

Benchmarks

See 262 peers

Peer group

Industry55 - Management of Companies and Enterprises

Plan typeDefined contribution

Participants100-249

Cohort262 peers

Snapshot2019

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

Analytics

Total assets (EOY)

Plan-year ending balance

$30.99M

Not enough data

1 years with asset history on file

Average account balance

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

$180K

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.

172

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.

86.9%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$820K

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

+17.80%

Not enough data

1 years with return on file

Admin fee / account holder

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

$63

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 2 by compensation

Provider	Service type	Compensation
FISHER HERBST KEMBLE5+ years Service code 10 · EIN 74-2584861	Accounting	$10,250
FIDELITY INVESTMENTS INSTITUTIONAL5+ years Service code 37 · EIN 04-2647786	Loan Processing	$1,200

Plan features & details

Pension benefit codes2F2G2J2T3D2E

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

$11K

$96 / participant

Other / not subdivided$11K100.0%

% of EOY assets

0.064%

all-in expense ratio

Categories reported

0 / 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: FISHER, HERBST & KEMBLE, P.C.
Auditor EIN: 742584861
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$137,720

$64,919+112.1%

$392,568-64.9%

$65,185+111.3%

Participation rate

94.1%

72.0%+22.1pp

78.1%+16.1pp

70.2%+23.9pp

Annual return

22.71%

26.09%-3.4pp

24.42%-1.7pp

29.38%-6.7pp

Employer contribution / active EE

$4,756

$2,374+100.3%

$3,783+25.7%

$2,177+118.5%

Participant deferral / active EE

$5,174

$3,668+41.0%

$5,985-13.6%

$3,514+47.2%

Admin fee / account holder

$89

$634-86.0%

$6,260-98.6%

$847-89.5%

Provider

Service type

Compensation

FISHER HERBST KEMBLE5+ years

Service code 10 · EIN 74-2584861

Accounting

$10,250

FIDELITY INVESTMENTS INSTITUTIONAL5+ years

Service code 37 · EIN 04-2647786

Loan Processing

$1,200

WESTEX BANCORP, INC. PRE-TAX SAVINGS AND PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

WESTEX BANCORP, INC. PRE-TAX SAVINGS AND PROFIT SHARING 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