Retirement plan

OLNEY BANCSHARES, INC. EMPLOYEES 401(K) RETIREMENT PLAN AND TRUST

Name: OLNEY BANCSHARES OF TEXAS, INC. - OLNEY BANCSHARES, INC. EMPLOYEES 401(K) RETIREMENT PLAN AND TRUST (2015) Form 5500
Creator: OLNEY BANCSHARES OF TEXAS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OLNEY BANCSHARES, INC. EMPLOYEES 401(K) RETIREMENT PLAN AND TRUST, OLNEY BANCSHARES OF TEXAS, INC.

OLNEY BANCSHARES OF TEXAS, INC.EIN 75-2534536Plan #001PY 2015

307 W. MAIN STREET, P.O. BOX 457 - OLNEY, TX 763741850940-564-5516LinkedIn1-10 employeeslegal services

Prospect flagsLow assets / participantLow participant contributionCorrective distributions

How to read this page

Total assets (EOY)

$18.2M

No prior year

Total participants

815

No prior year

Average account balance

$24,257

No prior year

Annual return

15.46%

No prior year

Benchmarks

See 1,335 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,335 peers

Snapshot2015

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

Analytics

Total assets (EOY)

Plan-year ending balance

$49.03M

Not enough data

1 years with asset history on file

Average account balance

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

$92K

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.

534

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.

85.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$4.71M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

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

+11.53%

Not enough data

1 years with return on file

Admin fee / account holder

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

$281

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
BKD, LLP1+ years Service code 10 · EIN 44-0160260	Accounting	$13,340
MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years Filed as: MASSMUTUAL RETIREMENT SERVICES, LLC Service code 15 · EIN 26-1589907	Recordkeeping	$3,400
RELIANCE TRUST COMPANY1+ years Service code 19 · EIN 58-1428634	Securities Custodian	$132

Plan features & details

Pension benefit codes2E2F2G2J2K2T3D3H

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.
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.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow assets / participant
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$17K

$32 / participant

Contract admin$17K100.0%

% of EOY assets

0.092%

all-in expense ratio

Categories reported

1 / 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: BKD, LLP
Auditor EIN: 440160260
Audit fees: (not subdivided)
Opinion code: Disclaimer

Metric

This plan

Peer set

Industry

Size

Avg account balance

$24,257

$68,413-64.5%

$123,106-80.3%

$55,191-56.0%

Participation rate

87.3%

84.5%+2.8pp

86.8%+0.5pp

69.2%+18.1pp

Annual return

15.46%

6.30%+9.2pp

13.22%+2.2pp

10.78%+4.7pp

Employer contribution / active EE

$1,558

$3,050-48.9%

$5,151-69.8%

$1,899-18.0%

Participant deferral / active EE

$2,331

$4,490-48.1%

$6,229-62.6%

$3,046-23.5%

Admin fee / account holder

$22

$88-74.5%

$9,015-99.8%

$91-75.4%

Provider

Service type

Compensation

BKD, LLP1+ years

Service code 10 · EIN 44-0160260

Accounting

$13,340

MASSACHUSETTS MUTUAL LIFE INS. CO.1+ years

Filed as: MASSMUTUAL RETIREMENT SERVICES, LLC

Service code 15 · EIN 26-1589907

Recordkeeping

$3,400

RELIANCE TRUST COMPANY1+ years

Service code 19 · EIN 58-1428634

Securities Custodian

$132

OLNEY BANCSHARES, INC. EMPLOYEES 401(K) RETIREMENT PLAN AND TRUST

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

OLNEY BANCSHARES, INC. EMPLOYEES 401(K) RETIREMENT 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