Retirement plan

BANKS ASSOCIATED SALES 401(K) PLAN

Name: BANKS ASSOCIATED SALES, INC. - BANKS ASSOCIATED SALES 401(K) PLAN (2024) Form 5500
Creator: BANKS ASSOCIATED SALES, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, BANKS ASSOCIATED SALES 401(K) PLAN, BANKS ASSOCIATED SALES, INC.

BANKS ASSOCIATED SALES, INC.EIN 75-2924465Plan #001PY 2024

PO BOX 3164 - MCKINNEY, TX 75070972-562-4149LinkedIn1-10 employeesconsumer goods

Prospect flagsHigh assets / participant

How to read this page

Total assets (EOY)

$621K

+15.4% from 2023

Total participants

0.0% from 2023

Average account balance

$310,660

+15.4% from 2023

Annual return

10.20%

-5.50 pp from 2023

Benchmarks

See 23,915 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,915 peers

Snapshot2024

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

Analytics

Total assets (EOY)

Plan-year ending balance

$745K

Not enough data

1 years with asset history on file

Average account balance

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

$372K

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.

100.0%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$26K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$13K

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

+15.66%

Not enough data

1 years with return on file

Admin fee / account holder

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

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 codes2E2F2G2J2R3D

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.
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

InformationalHigh assets / participant
Assets per participant exceed $250,000 - top-decile high-value plan.

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

$310,660

$166,089+87.0%

$164,928+88.4%

$145,978+112.8%

Participation rate

100.0%

82.0%+18.0pp

78.6%+21.4pp

80.3%+19.7pp

Annual return

10.20%

100.26%-90.1pp

70.08%-59.9pp

550.52%-540.3pp

Employer contribution / active EE

$6,525

$5,276+23.7%

$4,343+50.2%

$4,662+40.0%

Participant deferral / active EE

$7,500

$6,961+7.7%

$6,034+24.3%

$6,690+12.1%

Admin fee / account holder

$16,641-100.0%

$12,684-100.0%

$13,400-100.0%

BANKS ASSOCIATED SALES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

BANKS ASSOCIATED SALES 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion