Retirement plan

EASTERN COLORADO BANK 401(K) PLAN

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

THE EASTERN COLORADO BANKEIN 84-0361004Plan #001PY 2022

10 S. 1ST ST., PO BOX 888 - CHEYENNE WELLS, CO 808100888719-767-5652yourfriendlybank.comLinkedIn51-200 employeesbanking

Prospect flagsHigh fees

How to read this page

Total assets (EOY)

$8.1M

-13.6% from 2021

Total participants

+11.1% from 2021

Average account balance

$89,750

-22.2% from 2021

Annual return

-18.29%

-31.44 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

$15.43M

Not enough data

1 years with asset history on file

Average account balance

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

$154K

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.

100

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.

112.4%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$810K

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

+17.34%

Not enough data

1 years with return on file

Admin fee / account holder

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

$13629

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 codes2T2F2G2J3D

Plan features

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

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

$176K

$2449 / participant

Other / not subdivided$176K100.0%

% of EOY assets

2.183%

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

$89,750

$110,083-18.5%

$151,628-40.8%

$68,495+31.0%

Participation rate

100.0%

84.0%+16.0pp

87.5%+12.5pp

67.9%+32.1pp

Annual return

-18.29%

-10.12%-8.2pp

3.34%-21.6pp

-7.84%-10.4pp

Employer contribution / active EE

$2,572

$4,470-42.5%

$6,165-58.3%

$2,596-1.0%

Participant deferral / active EE

$5,916

$6,526-9.4%

$8,363-29.3%

$4,028+46.9%

Admin fee / account holder

$1,959

$7,718-74.6%

$11,613-83.1%

$5,403-63.7%

EASTERN COLORADO BANK 401(K) PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

EASTERN COLORADO BANK 401(K) 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