Plan Ledger DOL Form 5500 · updated monthly

Ambank Company, Inc.401(k)

AMBANK COMPANY, INC. EMPLOYEES' 401(K) PROFIT SHARING PLAN · SIOUX CENTER, IA · plan year 2024

Reported admin expense ratio · 2024
0.17%

Peer grade: B+ · admin costs + employer contributions vs same-size plans · how grading works

Ambank Company, Inc. reported $56,917 in plan administrative expenses for 2024: 0.17% of average plan assets, below the peer median. Employer contributions averaged $3,839 per active participant. This ratio covers administrative expenses reported on the plan's Schedule H only; fund-level expense ratios are not included in public structured data — see methodology.

Across the 2 years on file its reported administrative ratio fell from 0.18% to 0.17%. The plan sits in the $10M–$50M size bracket, benchmarked here against 27,838 comparable plans and shown alongside other management of companies employers. By assets it is the 250th-largest of 878 plans among Iowa employers on file, and the 335th of 786 in management of companies. In 2024, employees put in $1.69 for every $1.00 the employer contributed.

Plan summary
Net assets, end of year$36,740,616
Participants with balances274
Active participants243
Employer contributions$932,807
Employee contributions$1,579,495
Employer contribution per active participant$3,839
Average account balance$134,090
Benefits paid to participants$3,042,871
Plan auditUnmodified (clean) audit opinion
AuditorKROESE & KROESE, P.C.
Plan history3
Yearassets · accounts · employer contribution
2024$36.7M · 274 accts · $933K emplr
2023$32.1M · 267 accts · $896K emplr
2022$25.9M · 258 accts · $768K emplr
Administrative expenses, itemized · 2024
Recordkeeping & contract admin$56,917
Total administrative$56,917
The Ambank Company, Inc. 401(k) match · 2024
Employer contribution per active participant$3,839
Median for plans this size$2,416
2024$3,839 per active participant
2023$3,584 per active participant
2022$3,162 per active participant

Ambank Company, Inc.'s 2024 employer contribution ran above the $2,416 median for plans its size. Filings report dollars actually contributed, not the match formula; the formula itself (for example, 50% of the first 6% of pay) lives in the plan's summary plan description from HR.

What these fees cost you

Annual cost at the plan's reported 2024 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.

Service providers · 20241
NEWPORT GROUP · Recordkeeping · Trustee$56,916

Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.

Recordkeeper by year2
2024Newport (Ascensus)
2023Newport (Ascensus)

Looking for an account from a past job here? How to find an old 401(k).

Administrative cost history3
2024$56,917 · 0.17%
2023$54,527 · 0.19%
2022$51,716 · 0.18%
Same employer
Similar plansManagement of Companies · Iowa
Ncmic Group, Inc. IA$63.4M · 0.07%
West Bancorporation, Inc. IA$50.6M · 0.01%
Ohnward Bancshares, Inc. IA$39.7M · 0.36%
Absolute Group, Inc. IA$39.5M · 0.00%
Gnb Bancorporation IA$36.4M · 0.07%
Bank Midwest IA$32.2M · 0.01%
Farmers State Bank IA$28.8M · 0.07%

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Source: U.S. Department of Labor, Form 5500 series, EIN 420318300 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.