Progress Bank401(k)
PROGRESS BANK 401(K) PROFIT SHARING PLAN · HUNTSVILLE, AL · plan year 2022
Peer grade: B+ · admin costs + employer contributions vs same-size plans · how grading works
Progress Bank reported $55,582 in plan administrative expenses for 2022: 0.33% of average plan assets, above the peer median. Employer contributions averaged $4,171 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.
The plan sits in the $10M–$50M size bracket, benchmarked here against 26,806 comparable plans and shown alongside other finance & insurance employers. By assets it is the 371st-largest of 902 plans among Alabama employers on file, and 3,572nd of 4,798 in finance & insurance. In 2022, employees put in $1.58 for every $1.00 the employer contributed.
Progress Bank's 2022 employer contribution ran above the $2,266 median for plans its size, placing it in the top quarter of its peers. 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.
Annual cost at the plan's reported 2022 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Why are you looking at this plan?
Source: U.S. Department of Labor, Form 5500 series, EIN 261740755 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.