Retirement plan

CNB BANK 401(K) PROFIT SHARING PLAN

Name: CNB BANK - CNB BANK 401(K) PROFIT SHARING PLAN (2021) Form 5500
Creator: CNB BANK
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, CNB BANK 401(K) PROFIT SHARING PLAN, CNB BANK

CNB BANKEIN 85-0026535Plan #002PY 2021

P.O. BOX 1359 - CARLSBAD, NM 88220575-234-2500

Prospect flagsLow returnsHigh feesLow participant contribution

How to read this page

Total assets (EOY)

$4.2M

-11.4% from 2020

Total participants

-1.5% from 2020

Average account balance

$65,182

-8.6% from 2020

Annual return

10.00%

-6.28 pp from 2020

Benchmarks

See 7,182 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants25-99

Cohort7,182 peers

Snapshot2021

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

Analytics

Total assets (EOY)

Plan-year ending balance

$5.00M

Not enough data

1 years with asset history on file

Average account balance

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

$51K

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.

103.1%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$805K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

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

+10.93%

Not enough data

1 years with return on file

Admin fee / account holder

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

$13106

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 codes2E2F2G2J2T3D

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.
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

3 tripped

OpportunityLow participant contribution
Participant contribution per participant is in the bottom quintile of the peer cohort.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
OpportunityLow returns
Annual investment return is in the bottom quintile of the peer cohort.

Expense breakdown

Schedule H Part II

Admin total

$1.5M

$27034 / participant

Other / not subdivided$1M100.0%

% of EOY assets

35.642%

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

$65,182

$137,414-52.6%

$189,537-65.6%

$85,847-24.1%

Participation rate

98.2%

84.6%+13.6pp

87.8%+10.4pp

69.3%+28.9pp

Annual return

10.00%

38.14%-28.1pp

555.34%-545.3pp

318.61%-308.6pp

Employer contribution / active EE

$5,720

$4,344+31.7%

$6,161-7.2%

$2,565+123.0%

Participant deferral / active EE

$2,958

$6,260-52.7%

$8,220-64.0%

$3,952-25.2%

Admin fee / account holder

$23,232

$8,630+169.2%

$12,048+92.8%

$6,261+271.1%

CNB BANK 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

CNB BANK 401(K) PROFIT SHARING 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