Retirement plan

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

Name: OLNEY BANCSHARES OF TEXAS, INC. - OLNEY BANCSHARES OF TEXAS, INC. EMPLOYEES 401(K) RETIREMENT PLAN AND TRUST (2016) Form 5500
Creator: OLNEY BANCSHARES OF TEXAS, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, OLNEY BANCSHARES OF TEXAS, INC. EMPLOYEES 401(K) RETIREMENT PLAN AND TRUST, OLNEY BANCSHARES OF TEXAS, INC.

OLNEY BANCSHARES OF TEXAS, INC.EIN 75-2534536Plan #001PY 2016

307 W MAIN STREET - OLNEY, TX 76374405-375-6918LinkedIn1-10 employeeslegal services

Prospect flagsLow returnsLow participant contribution

How to read this page

Total assets (EOY)

$20.6M

+13.6% from 2015

Total participants

554

-32.0% from 2015

Average account balance

$39,855

+64.3% from 2015

Annual return

6.41%

-9.05 pp from 2015

Benchmarks

See 1,433 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants250-999

Cohort1,433 peers

Snapshot2016

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 6 by compensation

Provider	Service type	Compensation
UBS FINANCIAL SERVICES INC1 year Service code 27 315 DEADERICK ST 5TH FL · NASHVILLE, TN 37238	Advisory (Plan)	$16,438
UBS FINANCIAL SERVICES INC1 year Filed as: UBS FINANCIAL SERVICES INC. Service code 70 · EIN 13-2638166 1285 AVENUE OF THE AMERICAS · NEW YORK, NY 10019	Consulting Fees	$16,438
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Recordkeeping Fees	$7,570
MCAFEE & TAFT1 year Service code 99 211 N ROBINSON 10TH FL · OKLAHOMA CITY, OK 73102	Other Fees	$4,350
GREAT-WEST LIFE & ANNUITY INSURANCE1 year Filed as: EMPOWER RETIREMENT ADVISORY SERVICE Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111	Investment Management	$72
MASSACHUSETTS MUTUAL LIFE INS. CO.2+ years Filed as: MASSMUTUAL RETIREMENT SERVICES, LLC Service code 15 · EIN 26-1589907	Recordkeeping	$0

Plan features & details

Pension benefit codes2E2F2J2G2S2T3D3H

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.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
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

2 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$24K

$48 / participant

Contract admin$24K100.0%

% of EOY assets

0.117%

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

$39,855

$71,802-44.5%

$133,975-70.3%

$57,658-30.9%

Participation rate

92.9%

85.5%+7.4pp

87.1%+5.8pp

70.2%+22.6pp

Annual return

6.41%

13.51%-7.1pp

29.29%-22.9pp

5.13%+1.3pp

Employer contribution / active EE

$2,037

$3,161-35.6%

$5,211-60.9%

$1,974+3.2%

Participant deferral / active EE

$2,595

$4,606-43.7%

$6,282-58.7%

$3,061-15.2%

Admin fee / account holder

$46

$88-47.0%

$9,324-99.5%

$95-50.8%

Provider

Service type

Compensation

UBS FINANCIAL SERVICES INC1 year

Service code 27

315 DEADERICK ST 5TH FL · NASHVILLE, TN 37238

Advisory (Plan)

$16,438

UBS FINANCIAL SERVICES INC1 year

Filed as: UBS FINANCIAL SERVICES INC.

Service code 70 · EIN 13-2638166

1285 AVENUE OF THE AMERICAS · NEW YORK, NY 10019

Consulting Fees

$16,438

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Service code 64

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Recordkeeping Fees

$7,570

MCAFEE & TAFT1 year

Service code 99

211 N ROBINSON 10TH FL · OKLAHOMA CITY, OK 73102

Other Fees

$4,350

GREAT-WEST LIFE & ANNUITY INSURANCE1 year

Filed as: EMPOWER RETIREMENT ADVISORY SERVICE

Service code 28

8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111

Investment Management

$72

MASSACHUSETTS MUTUAL LIFE INS. CO.2+ years

Filed as: MASSMUTUAL RETIREMENT SERVICES, LLC

Service code 15 · EIN 26-1589907

Recordkeeping

OLNEY BANCSHARES OF TEXAS, 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 OF TEXAS, 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