Simplybank401(k)
SIMPLYBANK 401(K) PLAN · DAYTON, TN · plan year 2023
Peer grade: A- · admin costs + employer contributions vs same-size plans · how grading works
Simplybank reported $21,921 in plan administrative expenses for 2023: 0.24% of average plan assets, below the peer median. Employer contributions averaged $2,892 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 1 year on file its reported administrative ratio rose from 0.12% to 0.24%. The plan sits in the $1M–$10M size bracket, benchmarked here against 22,307 comparable plans and shown alongside other finance & insurance employers. By assets it is among the smaller plans on file in Tennessee (851st of 1,496), and 4,022nd of 4,798 in finance & insurance. In 2023, employees put in $1.43 for every $1.00 the employer contributed.
Simplybank's 2023 employer contribution ran above the $1,308 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 2023 administrative ratio, against the median plan its size; fund expense ratios are extra. Compare any plan.
Compensation shown is direct payments from plan assets reported on Schedule C. Providers paid through fund revenue-sharing appear as indirect.
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Source: U.S. Department of Labor, Form 5500 series, EIN 620123640 · Verify on EFAST2 · Amounts are as reported by the plan sponsor for the plan year shown.