Retirement plan

THE FIRST NATIONAL BANK OF MERTZON 401K PLAN

Name: THE FIRST NATIONAL BANK OF MERTZON - THE FIRST NATIONAL BANK OF MERTZON 401K PLAN (2022) Form 5500
Creator: THE FIRST NATIONAL BANK OF MERTZON
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE FIRST NATIONAL BANK OF MERTZON 401K PLAN, THE FIRST NATIONAL BANK OF MERTZON

THE FIRST NATIONAL BANK OF MERTZONEIN 75-0435225Plan #002PY 2022

106 SOUTH BROADW, P.O.BOX 589 - MERTZON, TX 76941325-835-4321fnbtrenton.bankLinkedIn51-200 employeesbanking

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$3.4M

-25.6% from 2021

Total participants

-4.7% from 2021

Average account balance

$83,714

-21.9% from 2021

Annual return

-17.60%

-30.13 pp from 2021

Benchmarks

See 7,130 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,130 peers

Snapshot2022

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

Analytics

Total assets (EOY)

Plan-year ending balance

$4.58M

Not enough data

1 years with asset history on file

Average account balance

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

$109K

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.

161.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$267K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$10K

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

+12.13%

Not enough data

1 years with return on file

Admin fee / account holder

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

$4310

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 codes2E3D2G2J2R2F2T

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.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
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

$612K

$22673 / participant

Other / not subdivided$612K100.0%

% of EOY assets

17.835%

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

$83,714

$110,083-24.0%

$151,639-44.8%

$68,486+22.2%

Participation rate

100.0%

84.0%+16.0pp

87.5%+12.5pp

67.9%+32.1pp

Annual return

-17.60%

-10.12%-7.5pp

3.34%-20.9pp

-7.85%-9.7pp

Employer contribution / active EE

$4,044

$4,470-9.5%

$6,165-34.4%

$2,597+55.7%

Participant deferral / active EE

$3,859

$6,526-40.9%

$8,363-53.9%

$4,028-4.2%

Admin fee / account holder

$14,931

$7,718+93.5%

$11,613+28.6%

$5,404+176.3%

THE FIRST NATIONAL BANK OF MERTZON 401K PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE FIRST NATIONAL BANK OF MERTZON 401K 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