Simplybank 401(K) Plan — Form 5500 plan (Simplybank)
Plain-English plan 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, Simplybank 401(K) Plan is a benefit plan reported by Simplybank under EIN 62-0123640 and plan number 001. The latest loaded filing year is 2023. The filing reports 179 participants and $9,595,171 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Simplybank
- EIN
- 62-0123640
- Plan number
- 001
- Plan type
- 2
- Location
- Dayton, TN
- Latest filing year
- 2023
- Participants
- 179
- End-of-year plan assets
- $9,595,171
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 179 | H, C | 20240916131223NAL0001525665001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $9,595,171
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $9,595,171
- Net assets (BOY)
- $8,796,980
Income & contributions
- Employer contributions
- $358,567
- Participant contributions
- $514,145
- Total contributions
- $877,289
- Total income / additions
- $2,314,664
Expenses & distributions
- Benefits paid
- $1,494,552
- Administrative expenses
- $21,921
- Total expenses
- $1,516,473
- Net increase / (decrease)
- $798,191
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Acumen Wealth Advisors | SERVICE PROVIDER | $0 | $22,978 | 2023 |
| Acuff & Associates | TPA | $0 | $4,553 | 2023 |