2023 Form 5500 filing — Magnolia Bank Retirement Savings Plan
Plain-English filing summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, this is the 2023 Form 5500 filing (EFAST2 acknowledgement 20241015080505NAL0056563090002) for Magnolia Bank Retirement Savings Plan, reported by Magnolia Bank under EIN 61-0126230 and plan number 001. It reports 345 participants. Attached schedules in the loaded dataset include Schedule H (large plan financials), Schedule C (service provider compensation).
- EFAST2 acknowledgement
- 20241015080505NAL0056563090002
- Filing year
- 2023
- Form type
- 2
- Plan sponsor
- Magnolia Bank
- EIN
- 61-0126230
- Plan number
- 001
- Location
- Hodgenville, KY
- Participants
- 345
- Schedules available
- Schedule H, Schedule C
- Received date
- not reported in the loaded dataset
Reported financial snapshot (2023)
- Total assets (EOY)
- $13,722,357
- Net assets (EOY)
- $13,722,357
- Employer contributions
- $396,451
- Participant contributions
- $1,145,290
- Total income / additions
- $3,516,526
- Benefits paid
- $1,451,266
- Administrative expenses
- $20,586
- Total expenses
- $1,471,852
- Net increase / (decrease)
- $2,044,674
- Schedule source
- Schedule H
Reported service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. |
|---|---|---|---|
| Horizon Wealth Management | SERVICE PROVIDER | not reported in the loaded dataset | $25,760 |
| Retirement Management Services, LLC | THIRD PARTY ADMINSTRATOR | $7,382 | $6,116 |
| Voya Retirement Insurance & Annuity | SERVICE PROVIDER | $9,927 | $1,522 |